#1 most loved electric vehicle, solar, & battery news & analysis site in the world. Support our work today!

Energy Storage no image

Published on November 21st, 2017 | by Joshua S Hill


Global Energy Storage Market To Double Six Times By 2030, Predicts BNEF

November 21st, 2017 by  

The global energy storage market is expected to double six times between 2016 and 2030 according to new analysis by Bloomberg New Energy Finance, reaching a total of 125 gigawatts with 305 gigawatt-hours of capacity.

Bloomberg New Energy Finance (BNEF) published a new report on Monday, Energy Storage Forecast, 2017-30, which shows that not only will the global energy storage market double six times between 2016 and 2030, but that the United States will account for a quarter of all deployments.

In total, global energy storage will increase to 125 GW (gigawatts) of capacity with 305 gigawatt-hours (GWh), a similar trajectory to what the global solar industry experienced between 2000 and 2015.

“The industry has just begun,” explained BNEF energy storage analyst Yayoi Sekine and lead author of the report. “With so much investment going into battery technology, falling costs and with significant addition of wind and solar capacity in all markets, energy storage will play a crucial part in the energy transformation.”

A total of $103 billion will be invested between 2016 and 2030 into the energy storage market, spread roughly across the Americas, Asia Pacific and Europe, Middle East and Africa regions. BNEF also highlights eight countries which will lead the market and account for 70% of global capacity — the United States, China, Japan, India, Germany, the United Kingdom, Australia, and South Korea.

The full report is available here for Bloomberg New Energy Finance subscribers.



Appreciate CleanTechnica’s originality? Consider becoming a CleanTechnica member, supporter, or ambassador — or a patron on Patreon.

Sign up for our free daily newsletter or weekly newsletter to never miss a story.

Have a tip for CleanTechnica, want to advertise, or want to suggest a guest for our CleanTech Talk podcast? Contact us here.

Latest Cleantech Talk Episode

Tags: , , , , , , , , , ,

About the Author

I'm a Christian, a nerd, a geek, and I believe that we're pretty quickly directing planet-Earth into hell in a handbasket! I also write for Fantasy Book Review (.co.uk), and can be found writing articles for a variety of other sites. Check me out at about.me for more.

Back to Top ↑