Energy storage surges in late trading

What will energy storage be like in 2024?

In 2024, the global energy storage is set to add more than 100 gigawatt-hours of capacity for the first time. The uptick will be largely driven by the growth in China, which will once again be the largest energy storage market globally.

How is the storage market changing?

As the storage market grows, procurement strategies are evolving to manage supply chain risks, cost volatility, safety issues, and regulatory shifts. Utilities and developers are structuring agreements to balance financial risk and feasibility.

Which countries are leading the global storage market this year?

This year will see a massive 76% jump in global storage installations to 69 gigawatts/169 gigawatt-hours. China leads, while the US stays second. Other main markets are India, Germany, Italy, UK, Italy, Australia and Japan.

Why is energy storage so important in China?

(Bloomberg) -- Energy storage is becoming so important in China that it’s drawing bigger crowds than Disneyland. More than 170,000 visitors are expected to descend on a Shanghai convention center over three days this week to view battery assemblies ranging in size from a shoe box to a shipping container.

Will energy storage growth continue through 2025?

With developers continuing to add new capacity, including 9.2 GW of new lithium-ion battery storage capacity in 2024 through November 2024 and comparable levels of growth expected through the fourth quarter of 2024, energy storage investments and M&A activity are expected to continue this trajectory through 2025.

How big will energy storage be in 2035?

Overall deployment will still rise every year in the next decade, as other markets rapidly scale up. BloombergNEF expects the energy storage market in 2035 to be 10 times larger than it is today, at 228 gigawatt (965 gigawatt-hours) cumulatively, in its latest outlook.