Energy storage battery demand in 2022

What is the total spending on battery energy storage in 2022?

Global investment in battery energy storage exceeded USD 20 billion in 2022, predominantly in grid-scale deployment, which represented more than 65% of total spending in 2022. Grid-scale battery storage investment has picked up in advanced economies and China, while pumped-storage hydropower investment is taking place mostly in China.

What is the expected battery energy storage investment in 2023?

Based on the existing pipeline of projects and new capacity targets set by governments, battery energy storage investment is expected to exceed USD 35 billion in 2023, after solid growth in 2022.

How much battery storage capacity was added in 2022?

Around 11 GW of storage capacity was added in 2022, compared with 2021, installations rose by more than 75%. Total installed grid-scale battery storage capacity stood at close to 28 GW at the end of 2022, most of which was added over the course of the previous 6 years.

When will battery storage capacity increase in the world?

In the STEPS, installed global, grid-connected battery storage capacity increases tenfold until 2030, rising from 27 GW in 2021 to 270 GW. Deployments accelerate further after 2030, with the global installed capacity reaching nearly 1300 GW in 2050.

Which countries invest in battery energy storage in 2022?

In 2022, advanced economies and China invested in grid-scale battery energy storage. Global investment in battery energy storage exceeded USD 20 billion, with more than 65% spent on grid-scale deployment.

What percentage of EV batteries are in demand in 2022?

In 2022, about 60% of lithium, 30% of cobalt, and 10% of nickel demand was for EV batteries.