Financial energy storage industry news

Will energy storage grow in 2023?

Global energy storage’s record additions in 2023 will be followed by a 27% compound annual growth rate to 2030, with annual additions reaching 110GW/372GWh, or 2.6 times expected 2023 gigawatt installations. Targets and subsidies are translating into project development and power market reforms that favor energy storage.

Which countries are leading the global storage market this year?

This year will see a massive 76% jump in global storage installations to 69 gigawatts/169 gigawatt-hours. China leads, while the US stays second. Other main markets are India, Germany, Italy, UK, Italy, Australia and Japan.

How big will energy storage be in 2035?

Overall deployment will still rise every year in the next decade, as other markets rapidly scale up. BloombergNEF expects the energy storage market in 2035 to be 10 times larger than it is today, at 228 gigawatt (965 gigawatt-hours) cumulatively, in its latest outlook.

How many energy storage financing and investment deals were completed in 2024?

Through the first three quarters of 2024, 83 energy storage financing and investment deals were reported completed for a total of $17.6 billion invested. Of these transactions, 18 were M&A transactions, up from 11 transactions during the same period in 2023.

Who are the energy storage associates at bloombergnef?

By Nelson Nsitem, Senior Energy Storage Associate, Yayoi Sekine, Head of Energy Storage, and Andy Leach, Energy Storage Associate, BloombergNEF

How long does energy storage take?

BloombergNEF reports that energy storage systems in the U.S. and Europe average around four hours in duration, while that number decreases to two hours in China, which is the world’s largest marketplace. BloombergNEF expects 71 GW/ 193 GWh of stationary energy storage to be deployed in 2025.