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Why are stationary battery energy storage installations surging?

With expanding market opportunities and declining costs stationary battery energy storage installations are surging. Battery makers are awake to the opportunity, reports BloombergNEF, as stationary batteries account for an increasing amount of deployed capacity.

Is battery storage the world's largest source of electricity?

A landmark event occurred in the US on Tuesday night when battery storage become for the first time the largest source of supply in the California grid, which delivers electricity to the world’s fifth biggest economy and is one of the world’s biggest grids.

When did energy storage installations in the US surpass 11,976 MWh?

The volume of energy storage installations in the United States in 2022 totaled 11,976 megawatt hours (MWh)—a figure surpassed in the first three quarters of 2023 when installations hit 13,518 MWh by cumulative volume.

How did energy storage grow in 2022 & 2023?

The US utility-scale storage sector saw tremendous growth over 2022 and 2023. In 2022, the volume of energy storage installations totaled 11,976 megawatt hours (MWh), which was surpassed in the first three quarters of 2023, reaching 13,518 MWh by cumulative volume.

Why is battery storage so important in South Australia?

Battery storage plays its biggest role in South Australia, which has a world-leading 75 per cent share of wind and solar in its grid. Battery storage is now a feature of morning and evening peaks, and often accounts for well over 10 per cent of supply, and has peaked in that state at 367 MW. And more big batteries are on their way.

Will 9% of energy storage capacity be added by 2030?

We added 9% of energy storage capacity (in GW terms) by 2030 globally as a buffer. The buffer addresses uncertainties, such as markets where we lack visibility and where more ambitious policies may develop that we haven’t predicted. We revised our buffer calculation methodology in this market outlook.