U.S. and China to account for more than half of all global energy storage by 2030

According to forecasting by BloombergNEF, the global energy storage market will grow to deploy 58GW/178GWh annually by 2030, with the U.S. and China representing 54% of all deployments.

While acknowledging that near-term deployments have been dampened by supply chain constraints, BNEF’s “H1 2022 Energy Storage Market Outlook” report predicts there will be a 30% compound annual growth rate in the market.

In 2021, 10GW/22GWh of storage was deployed with the world reaching 27GW/56GWh of cumulative instalments by the end of the year.

The world’s biggest market by country is currently the U.S., installing 4GW/11GWh last year, bringing its cumulative capacity up to 7GW/17GWh.

Excerpt from SUN DAY Campaign‘s April 7th, 2022 issue.

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