Energy Storage

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If energy storage technologies do become globally ubiquitous, the energy storage market will emerge as the fastest growing industry in the world throughout the next decade.

Here are the numbers. 

At the end of 2021, global installed energy storage capacity measured about 46 GWh. According to our analysis, that means less than 1.5% of renewable energy production in the world is backed by energy storage today. 

We think that by 2030, that number grows to 800 GWh of energy storage capacity. We’re not alone in that thinking. Bloomberg New Energy Finance is targeting at least 800 GWh of global energy storage capacity by 2030. So is every other major clean energy market research firm. 

That means this market is going to grow from 46 GWh of capacity in 2021 to 800 GWh of capacity in 2030. That’s a 17X gain in nine years. In certain geographies – like Europe, where the energy crisis is more severe – Bloomberg expects the industry to grow by 40X!

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