- Published: 21 November 2017 21 November 2017
The global energy storage market will double six times between 2016 and 2030, rising to a total of 125 gigawatts/305 gigawatt-hours according to the report Energy Storage Forecast, 2017-30 released by Bloomberg New Energy Finance (BNEF).
US$ 103 billion will be invested over this period. Spread roughly equally across the Americas, Asia Pacific and Europe, Middle East and Africa regions. Eight countries will lead the market, with 70 percent of capacity to be installed in the USA, China, Japan, India, Germany, UK, 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.