G7 countries promote power storage

Will the G7 increase energy storage in 2022?

The G7 also committed to a quantitative global goal to increase energy storage in the power sector to 1500 GW in 2030—a more than six-fold increase from 230 GW in 2022. This major commitment will advance the COP28 global goal to triple renewable energy capacity by 2030 and transform intermittent energy into reliable baseload power.

What does the G7 plan mean for energy storage?

The G7 communiqué commits the group to increase system flexibility through grid reinforcement, in line with IRENA analysis of key metrics that suggests efforts need to be accelerated. The group also called for the significant expansion of energy storage capacity, by more than six-fold by 2030, from 230 GW in 2022.

Will the G7 increase battery storage capacity sixfold by 2030?

“The G7 countries’ commitment to rapidly expand battery storage capacity sixfold by 2030 is critical to meeting countries’ prior commitment to tripling renewable energy, and needed to create resilient electrical grids.

Will G7 scale-up battery storage by 2030?

In addition, the G7 countries announced they will rapidly scale-up battery storage sixfold by 2030 to support electricity grids powered by renewable energy sources. Following is a statement from Jennifer Layke, Global Director, Energy, World Resources Institute:

Is the G7's solar PV expansion target on track?

Citing an IRENA brief for the G7, the communiqué indicates that the group’s solar PV expansion target by 2030 is on track if some enhancements to existing policies are made in a timely manner.

What did the G7 achieve?

Other highlights include the G7 securing a historic fusion energy outcome, including a commitment to international collaboration and creation of a first-ever G7 working group on this groundbreaking technology. The G7 further broke new ground in committing to phase out the use of sulfur hexafluoride (SF6) in new switchgear applications by 2035.