Energy storage 20210 global installed capacity

How much energy storage will the world have in 2022?

New York, October 12, 2022 – Energy storage installations around the world are projected to reach a cumulative 411 gigawatts (or 1,194 gigawatt-hours) by the end of 2030, according to the latest forecast from research company BloombergNEF (BNEF). That is 15 times the 27GW/56GWh of storage that was online at the end of 2021.

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.

Will energy storage grow in 2023?

According to BloombergNEF, total energy storage deployments this year will be 34% higher than 2022 figures, with the industry on track for a total 42GW/99GWh of deployments in 2023. That will be followed by compound annual growth rate (CAGR) of about 27% through 2030, an increase from the 23% CAGR it predicted as recently as March.

How big will China FTM storage be in 2021?

China FTM storage annual installations will more than triple in 2021 and deliver 260GWh of new capacity for 2021-2030. Wood Mackenzie forecasts the Asia Pacific market to grow 20-fold, reaching 400GWh of total storage capacity by 2030, with the FTM sector accounting for 82% of that demand.

Will global lithium ion battery capacity double in 2021?

In support of global demand expansion, the report noted that global lithium ion battery capacity will double in the next two years. Annual global energy storage deployments will nearly triple year-on-year, reaching 12GW by the end of 2021.

Which countries will dominate the global storage market in 2030?

Xu Le, senior research analyst, said: “The US and China will dominate the global storage market, together commanding over 70% of total global installed capacity through 2030.” Deployments in the front-of-the-meter (FTM) segment will hit 700 gigawatt hour (GWh), 73% of total global deployment, by 2030.