Only half of the energy storage needed to properly integrate the potential solar PV additions globally by 2030 will be deployed based on current policies, the International Energy Agency (IEA) said in its World Energy Outlook report for 2023.
The US National Renewable Energy Laboratory (NREL) has updated its long-term battery energy storage system (BESS) costs through to 2050, with costs potentially halving over this decade.
California governor Gavin Newsom has outlined how the state will reach 100% decarbonisation by 2045, in a policy update which put energy storage front-and-centre in enabling 24/7 clean power.
Europe reached 4.5GW of battery storage capacity last year and could hit 95GW by 2050, according to figures from LCP Delta and Aurora Energy Research respectively.
Long duration energy storage technologies like flow batteries, compressed air or gravity-based solutions look set to enter the market at scale in the second half of the 2030s, according to the DNV Energy Transition Outlook.
