How big will energy storage be in 2025?

Grid-scale storage deployments alone are expected to reach 13.3 GW in 2025. Across all segments, Wood Mackenzie expects 15 GW of storage deployments, growing another 25% over the record year of 2024. “Energy storage has entered a new phase of growth with its first year of double-digit deployment.

What is the future of energy storage?

Global installed energy storage is on a steep upward trajectory. From just under 0.5 terawatts (TW) in 2024, total capacity is expected to rise ninefold to over 4 TW by 2040, driven by battery energy storage systems (BESS). Last year saw a record-breaking 200 gigawatt-hours (GWh) of new BESS projects coming online, a growth rate of 80%.

What will energy storage be like in 2024?

In 2024, the global energy storage is set to add more than 100 gigawatt-hours of capacity for the first time. The uptick will be largely driven by the growth in China, which will once again be the largest energy storage market globally.

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.

How many gigawatts will energy storage add in 2024?

Last year’s record global additions of 45 gigawatts (97 gigawatt-hours) will be followed by continued robust growth. In 2024, the global energy storage is set to add more than 100 gigawatt-hours of capacity for the first time.

How many states are deploying energy storage?

The remaining 39% was installed in 13 states, said the report. Hallahan said with a robust pipeline and forecasted sustained growth; the U.S. is on a path to deploy over 100 GW of grid-scale storage by 2030. Residential energy storage had a boom year for growth, deploying 1.25 GW in 2024, a 57% leap above 2023 totals.