Installed capacity in the energy storage industry

Should energy storage be developed?

Developing energy storage has become a global consensus. It was announced at COP29 in late 2024 that global storage capacity will increase to 1,500 GW by 2030, more than six times the 2022 level. As a result, InfoLink maintains a cautiously optimistic outlook for the medium- to long-term development of energy storage systems.

How can manufacturers capitalize on energy storage trends?

To capitalize on this trend, manufacturers should focus on market insights and plan for new opportunities. Developing energy storage has become a global consensus. It was announced at COP29 in late 2024 that global storage capacity will increase to 1,500 GW by 2030, more than six times the 2022 level.

What is China's current energy storage capacity?

As of 2022, China's installed energy storage capacity is over 30 GW. In July 2021, China announced plans to install over 30 GW of energy storage by 2025 (excluding pumped-storage hydropower), a more than three-fold increase on its installed capacity as of 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.

How has cost decline impacted energy storage?

This trend may highlight that the cost decline over the past few years has driven energy storage into an era of accelerated diversification in the global market. The European energy storage market added 19.1 GWh of installed capacity in 2024, up 12.4% YoY, with drastic changes in the ESS landscape throughout the year.

Will China install 30 GW of energy storage by 2025?

In July 2021, China announced plans to install over 30 GW of energy storage by 2025, excluding pumped-storage hydropower. This is a more than three-fold increase on its installed capacity as of 2022.