- Global energy storage deployments, including customer-sited storage, will reach 358 GW/1,028 GWh by the end of the decade — a twentyfold increase over 2020 figures — according to an analysis released Monday by BloombergNEF.
- The U.S. and China together are expected to represent over half of that deployment by 2030, with India, Australia, Germany, the U.K. and Japan also becoming top markets. According to the analysis, supportive policies, aggressive climate goals and the need for flexible resources will drive growth in all those regions.
- The global energy storage market is growing at an unprecedented pace, Yiyi Zhou, report lead author and clean power specialist at BNEF, said in a statement, adding, “Falling battery costs and surging renewables penetration make energy storage a compelling flexible resource in many power systems. Energy storage projects are growing in scale, increasing in…