Energy storage deployment capacity

What is the future of energy storage in China?

In China, generation-side and grid-side energy storage dominate, making up 97% of newly deployed energy storage capacity in 2023. 2023 was a breakthrough year for industrial and commercial energy storage in China. Projections show significant growth for the future.

Will China reach 30gw of energy storage by 2025?

The deployment of “new type” energy storage capacity almost quadrupled in 2023 in China, increasing to 31.4GW, up from just 8.7GW in 2022, according to data from the National Energy Administration (NEA). This means that China surpassed its target of reaching 30GW of the “new type” energy storage by 2025 two years earlier than planned.

Which countries have the largest energy storage capacity by 2030?

Regions with the largest expected growth in energy storage capacity by 2030 include Latin America (+1,374%), the Middle East (+1,147%), and the Asia-Pacific (+778%), based on data from Wood Mackenzie’s Global Energy Storage Market Update Q2, 2024.

Will energy storage capacity double by 2030?

United States forecasts that consider state goals, utility integrated resource plans (IRPs), and industry expectations estimate energy storage capacity will more than double by 2030, much of which is expected to be contributed to BESS deployments.

What is China's current energy storage capacity?

As of 2022, China's installed energy storage capacity is over 30 GW. In July 2021, China announced plans to install over 30 GW of energy storage by 2025 (excluding pumped-storage hydropower), a more than three-fold increase on its installed capacity as of 2022.

What types of energy storage are included?

Other storage includes compressed air energy storage, flywheel and thermal storage. Hydrogen electrolysers are not included. Global installed energy storage capacity by scenario, 2023 and 2030 - Chart and data by the International Energy Agency.