Pumped hydro, batteries, hydrogen, and thermal storage are a few of the technologies currently in the spotlight. The global battery industry has been gaining momentum over the last few years, and investments in battery storage and power grids surpassed 450 billion U.S. dollars in 2024. Find the latest statistics and facts on energy storage.
Global installed energy storage is on a steep upward trajectory. From just under 0.5 terawatts (TW) in 2024, total capacity is expected to rise ninefold to over 4 TW by 2040, driven by battery energy storage systems (BESS). Last year saw a record-breaking 200 gigawatt-hours (GWh) of new BESS projects coming online, a growth rate of 80%.
Developing energy storage has become a global consensus. It was announced at COP29 in late 2024 that global storage capacity will increase to 1,500 GW by 2030, more than six times the 2022 level. As a result, InfoLink maintains a cautiously optimistic outlook for the medium- to long-term development of energy storage systems.
Mainland China accounts for most of the global energy storage demand, driven in the near term by regional requirements for new utility-scale wind and solar projects to include energy storage capacity. However, the Chinese market is entering an era of change.
To support the global transition to clean electricity, funding for development of energy storage projects is required. Pumped hydro, batteries, hydrogen, and thermal storage are a few of the technologies currently in the spotlight.
Energy storage technologies have the unique capabilities to keep the lights on when the power grid is under stress. In both Texas and California, energy storage technologies have prevented black outs during significant heatwaves—keeping people safe, power affordable, and the power on for businesses.
By storing energy when the price of electricity is low and discharging that energy later during periods of high demand, energy storage can reduce costs for utilities and save families and businesses money.
View Details
The global energy storage market is poised to hit new heights yet again in 2025. Despite policy changes and uncertainty in the world''s two largest markets, the US and China,
View Details
As the industry evolves from policy darling to market warrior, one thing''s clear – energy storage is no longer just about saving electrons for rainy days. It''s rewriting the rules of
View Details
The global battery industry has been gaining momentum over the last few years, and investments in battery storage and power grids surpassed 450 billion U.S. dollars in 2024.
View Details
The article discusses top 10 energy storage companies that are working on new solutions to support global energy needs.
View Details
What have been the themes that have been preoccupying the energy storage sector in 2024? Here we bring you a rundown of the most widely read pieces of Energy Storage Report analysis over the last 12
View Details
The global energy storage market added 175.4 GWh of installed capacity in 2024, with the three major regional markets—China, the Americas, and Europe—continuing to
View Details
Thermal storage and compressed-air energy storage (CAES) suit the region''s hot climate and vast salt caverns, spurring exportable know-how in high-temperature storage
View Details
While power demand is expected to continue to see strong growth in 2025 and beyond, the growth rate of low-carbon energy sources is now close to covering the entire
View DetailsPDF version includes complete article with source references. Suitable for printing and offline reading.