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BNEF: GLOBAL ENERGY STORAGE FORECAST, 2016-24 (45GW/81GWh)
GLOBAL ENERGY STORAGE FORECAST, 2016-24
By 2024, roughly 45GW / 81GWh of energy storage will be installed globally, excluding pumped hydro. Although this will represent a tiny fraction of total installed generation capacity, the electricity system will look fundamentally different. At utility-scale, energy storage is being used to displace less efficient generation capacity. Meanwhile, fast growing uptake in behind-the-meter energy storage looks set to transform the relationship between consumers and utilities.
Utility-scale storage deployments dominate in terms of total installed power output (MW) in 2016. They make up 84% of total installed capacity. Behind-the-meter energy storage becomes increasingly important throughout the 2016-24 period, and in 2021 it becomes the larger of the two market segments.
The top five markets are Japan, India, the United States, China, and Europe: other. They represent 71% of the global total in 2024 for storage installed.
Between 2016 and 2024, some $44bn will be invested in storage, compared to $3.9 trillion in power generation capacity.
By 2024, roughly 45GW / 81GWh of energy storage will be installed globally, excluding pumped hydro. Although this will represent a tiny fraction of total installed generation capacity, the electricity system will look fundamentally different. At utility-scale, energy storage is being used to displace less efficient generation capacity. Meanwhile, fast growing uptake in behind-the-meter energy storage looks set to transform the relationship between consumers and utilities.
Utility-scale storage deployments dominate in terms of total installed power output (MW) in 2016. They make up 84% of total installed capacity. Behind-the-meter energy storage becomes increasingly important throughout the 2016-24 period, and in 2021 it becomes the larger of the two market segments.
The top five markets are Japan, India, the United States, China, and Europe: other. They represent 71% of the global total in 2024 for storage installed.
Between 2016 and 2024, some $44bn will be invested in storage, compared to $3.9 trillion in power generation capacity.
https://about.bnef.com/landing-pages/global-energy-storage-forecast-2016-24/