6 billion investment in solar energy storage

Is solar PV the future of energy storage?

Despite the fall in unit prices for energy storage, a total of US$3.6 billion of investment was committed to energy storage projects in 2020, around the same amount as in 2019. A new report from BloombergNEF looking at investment trends in the global energy transition found that solar PV lead a jump in energy transition investments throughout 2020.

How many GW of solar & battery storage will be produced?

The project will combine 5.2 GW of solar with 19 GWh of battery storage to produce 1 GW of continuous baseload renewable energy. The project was announced today by Sultan Ahmed Al-Jaber, United Arab Emirates Minister of Industry and Advanced Technology, at the opening of the Abu Dhabi Sustainability Summit 2025.

How did energy storage investment perform in 2020?

BNEF’s report showed that energy storage investment was driven by growth in Asia Pacific and American markets, while EMEA funding slowed down. Image: BNEF Despite the fall in unit prices for energy storage, a total of US$3.6 billion of investment was committed to energy storage projects in 2020, around the same amount as in 2019.

How much will the power sector invest in solar in 2024?

Power sector investment in solar photovoltaic (PV) technology is projected to exceed USD 500 billion in 2024, surpassing all other generation sources combined. Though growth may moderate slightly in 2024 due to falling PV module prices, solar remains central to the power sector’s transformation.

What is the UK's largest solar & battery storage project financing?

The financing is the largest solar + battery storage project financing ever closed in the UK and was arranged in two tranches, with the term loans for the solar PV completed in August 2024 and for the BESS facility in March 2025.

Does bloombergnef invest in energy storage?

BloombergNEF’s reporting of energy storage investment focused only on stationary storage projects and excluded pumped hydro, compressed air energy storage and hydrogen projects, with the latter accounted for elsewhere in the company’s Energy Transition Investment Trends report. Additional reporting for Energy-Storage.news by Andy Colthorpe.