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    Home > Chemicals Industry > International Chemical > Global energy storage capacity is expected to increase 20-fold by the end of 2030

    Global energy storage capacity is expected to increase 20-fold by the end of 2030

    • Last Update: 2023-01-03
    • Source: Internet
    • Author: User
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    A recent forecast by Bloomberg New Energy Finance found that by the end of 2030, global energy storage installations will cumulatively reach 358 GW/1,028 GWh, more than 20 times
    more than the 17 GW/34 GWh online at the end of 2020.

    According to market research firms, this stationary energy storage boom will require more than $262 billion in investment
    .

    The report estimates that between 2021 and 2030, 345 GW/999 GWh of new energy storage capacity
    will be added globally.
    The United States and China are the two largest markets and will account for more than
    half of global storage installations by 2030.

    Other major markets, such as India, Australia, Germany, the UK and Japan, are common drivers of supportive policies, ambitious climate commitments, and growing demand for
    flexible resources.

    From a regional point of view, by 2030, the Asia-Pacific region will lead the construction of megawatt-based energy storage, but the Americas will build more
    on the basis of megawatt-hours.
    Europe, the Middle East and Africa (EMEA) currently lags behind its peers due to a lack of targeted policies and incentives, given Europe's ambitious climate targets, as renewable energy penetration surges, more fossil fuel generators are phased out, and battery supply chains become more localized,?? Growth in the region is likely to accelerate
    .

    By 2030, 55% of energy storage construction will be used to provide energy transfer, for example, to store solar or wind energy for later release
    .
    In particular, the company believes that renewable energy + energy storage projects such as solar + energy storage have become commonplace on a global scale
    .

    In addition, rapidly evolving battery technologies are driving the energy storage market, with the industry adopting multiple lithium-ion battery chemistries
    .
    By 2021, lithium iron phosphate will surpass nickel-manganese-cobalt chemicals for stationary storage
    for the first time.
    Until at least 2030, lithium iron phosphate will be the main lithium-ion battery chemistry choice in energy storage, mainly due to its dominance in China and increasing penetration in other parts of the world
    .

    A recent forecast by Bloomberg New Energy Finance found that by the end of 2030, global energy storage installations will cumulatively reach 358 GW/1,028 GWh, more than 20 times
    more than the 17 GW/34 GWh online at the end of 2020.

    energy storage

    According to market research firms, this stationary energy storage boom will require more than $262 billion in investment
    .

    The report estimates that between 2021 and 2030, 345 GW/999 GWh of new energy storage capacity
    will be added globally.
    The United States and China are the two largest markets and will account for more than
    half of global storage installations by 2030.

    Other major markets, such as India, Australia, Germany, the UK and Japan, are common drivers of supportive policies, ambitious climate commitments, and growing demand for
    flexible resources.

    From a regional point of view, by 2030, the Asia-Pacific region will lead the construction of megawatt-based energy storage, but the Americas will build more
    on the basis of megawatt-hours.
    Europe, the Middle East and Africa (EMEA) currently lags behind its peers due to a lack of targeted policies and incentives, given Europe's ambitious climate targets, as renewable energy penetration surges, more fossil fuel generators are phased out, and battery supply chains become more localized,?? Growth in the region is likely to accelerate
    .

    By 2030, 55% of energy storage construction will be used to provide energy transfer, for example, to store solar or wind energy for later release
    .
    In particular, the company believes that renewable energy + energy storage projects such as solar + energy storage have become commonplace on a global scale
    .

    In addition, rapidly evolving battery technologies are driving the energy storage market, with the industry adopting multiple lithium-ion battery chemistries
    .
    By 2021, lithium iron phosphate will surpass nickel-manganese-cobalt chemicals for stationary storage
    for the first time.
    Until at least 2030, lithium iron phosphate will be the main lithium-ion battery chemistry choice in energy storage, mainly due to its dominance in China and increasing penetration in other parts of the world
    .

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