Large-scale energy storage capacity to triple this year and next

Will batteries lead to a sixfold increase in energy storage capacity?

Batteries need to lead a sixfold increase in global energy storage capacity to enable the world to meet 2030 targets, after deployment in the power sector more than doubled last year, the IEA said in its first assessment of the state of play across the entire battery ecosystem.

Will China expand its energy storage capacity by 2025?

China aims to further develop its new energy storage capacity, which is expected to advance from the initial stage of commercialization to large-scale development by 2025, with an installed capacity of more than 30 million kilowatts, regulators said.

How big is the global battery storage pipeline?

The global battery storage project pipeline for the next two years reached 748 GWh, indicating a surge of the global battery storage ecosystem. Notably, in November 2024, COP29 agreed to a global energy storage target of 1,500 GW by 2030, up from existing 340 GW, covering all technologies, including BESS and pumped hydro.

Will China's new energy storage sector grow in 2024?

BEIJING -- China's new energy storage sector has seen a rapid growth in 2024, with installed capacity surpassing 70 million kilowatts, said an official with the National Energy Administration (NEA).

Should energy storage systems be deployed alongside renewables?

Energy storage systems must be deployed alongside renewables. Credit: r.classen via Shutterstock. At the annual Conference of Parties (COP) last year, a historic decision called for all member states to contribute to tripling renewable energy capacity and doubling energy efficiency by 2030.

How much battery storage is needed to achieve energy transition goals?

In fact, at least 1200 GW of battery storage capacity will be needed if the world wants to achieve 2030 energy transition goals. While Pumped storage hydropower (PSH) is a traditional storage method that accounts for a majority of global storage still, it faces challenges which make alternative storage solutions a more attractive option.