Global Storage Market to Double Six Times by 2030

This article first appeared on the BNEF mobile app and the Bloomberg Terminal.

  • Forecast shows one-fourth of deployments in the U.S.
  • $103 billion invested in energy storage over this period

Global cumulative storage deployments 

Source: Bloomberg New Energy Finance

The global energy storage market will double six times between 2016 and 2030, rising to a total of 125 gigawatts/305 gigawatt-hours. This is a similar trajectory to the remarkable expansion that the solar industry went through from 2000 to 2015, in which the share of photovoltaics as a percentage of total generation doubled seven times. Eight countries will lead the market, with 70 percent of capacity to be installed in the U.S., China, Japan, India, Germany, U.K., Australia and South Korea. Energy storage, both utility-scale and behind-the-meter, will be a crucial source of flexibility throughout this period and will be essential to integrating increasing levels of renewable energy.

See the full research report here.

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Bloomberg New Energy Finance (BNEF) is an industry research firm focused on helping energy professionals generate opportunities. With a team of experts spread across six continents, BNEF provides independent analysis and insight, enabling decision-makers to navigate change in an evolving energy economy.
 
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