Energy storage 2021 global installations

How big will energy storage be in 2021?

New York and Beijing, November 15, 2021 – Energy storage installations around the world will reach a cumulative 358 gigawatts/1,028 gigawatt-hours by the end of 2030, more than twenty times larger than the 17 gigawatts/34 gigawatt-hours online at the end of 2020, according to the latest forecast from research company BloombergNEF (BNEF).

How much investment is needed for stationary energy storage?

This boom in stationary energy storage will require more than $262 billion of investment, BNEF estimates. BloombergNEF’s 2021 Global Energy Storage Outlook estimates that 345 gigawatts/999 gigawatt-hours of new energy storage capacity will be added globally between 2021 and 2030, which is more than Japan’s entire power generation capacity in 2020.

What will BNEF expect from energy storage in 2030?

BNEF expects energy storage located at homes and businesses to make up about one quarter of global storage installations by 2030. The desire of electricity consumers to use more self-generated solar power and appetite for back-up power are major drivers.

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 are deploying a new storage system in 2025?

The clean power ambitions of state governments and utilities propel storage deployment in the U.S. In China, the ambitious installation target of 30 gigawatts of cumulative build by 2025 and stricter renewable integration rules boost expected storage installations. Other top markets include India, Australia, Germany, the U.K. and Japan.

What is the future of energy storage?

BNEF’s forecast suggests that the majority, or 55%, of energy storage build by 2030 will be to provide energy shifting (for instance, storing solar or wind to release later). Co-located renewable-plus-storage projects, solar-plus-storage in particular, are becoming commonplace globally.