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.
BNEF on Monday said energy storage installations worldwide would reach a cumulative 358 GW, or 1,028 GWh, by year-end 2030. That compares to the group’s finding of 17 GW/34 GWh operating at the end of last year.
