Energy storage group energy outlook

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 big will energy storage be by 2030?

BNEF forecasts energy storage located in homes and businesses will make up about one quarter of global storage installations by 2030. Yayoi Sekine, head of energy storage at BNEF, added: “With ambition the energy storage market has potential to pick-up incredibly quickly.

Why is energy storage important?

Energy storage is rapidly emerging as a vital component of the global energy landscape, driven by the increasing integration of renewable energy sources and the need for grid stability. As the world transitions towards cleaner energy systems, innovative storage solutions are gaining prominence, enabling more efficient use of renewable resources.

How much energy storage capacity will BNEF have by 2030?

BNEF’s latest Energy Storage Market Outlook, published on 12 October, sees an additional 13% of capacity by 2030 than previously estimated, primarily driven by recent policy developments. This is equal to an extra 46GW.

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 energy storage?

Note: BNEF’s definition of energy storage includes stationary batteries used in ancillary services, energy shifting, transmission and distribution grids investment deferral, customer-sited, and other applications. It excludes pumped hydro storage. Cumulative capacity forecasts account for storage retirements.