Darrell Proctor of Power reports on a new study that forecasts massive increases in energy storage by 2030.
- BloombergNEF projects that energy storage systems and gigawatt capacity around the world will grow significantly by 2030.
- The report estimates that the United States and China will lead the way and remain the two largest energy storage markets, accounting for over half of the global installs over the next decade.
- Private sector innovation and market demands will be a driving force for increased energy storage in the coming decade.
“Global installations of energy storage systems will experience rapid growth this decade, resulting by the end of 2030 in gigawatt capacity more than 20 times larger than the amount online at the end of 2020. That’s according to a forecast from research company BloombergNEF (BNEF), which in a report released Nov. 15 said the huge increase will require investment of more than $262 billion in stationary energy storage over the next 10 years.”
Read the full article here.