New energy storage installed in 2021

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 many energy storage projects were approved in 2021?

In 2021, there were 136 approved energy storage projects, comprising 131 electrochemical and 5 pumped hydro storage projects.

When will energy storage technology be commercialized?

By 2025, the large-scale commercialization of new energy storage technologies 1 with more than 30 GW of installed non-hydro energy storage capacity will be achieved; and by 2030, market-oriented development will be realized .

How many GW of new energy storage will be deployed this year?

Image: MW Storage AG. Analysis and research firm IHS Markit has predicted that over 10GW of new energy storage will be deployed during this year, with around half of those additions in the US market. The company said in a new report that this would be more than double the 4.5GW of global capacity additions in 2020.

How big will electrochemical energy storage be by 2027?

Based on CNESA’s projections, the global installed capacity of electrochemical energy storage will reach 1138.9GWh by 2027, with a CAGR of 61% between 2021 and 2027, which is twice as high as that of the energy storage industry as a whole (Figure 3).

What is new energy storage?

With the world's largest station for iron-chromium flow battery starting a test run of 168 hours on Tuesday, the country has taken a step further in advancing new energy storage. New energy storage refers to energy storage using new technologies, such as lithium-ion batteries, liquid flow batteries, compressed air and mechanical energy.