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BNEF forecasts global energy storage market to grow 15-fold by 2030 to 411 GW/1194 GWh

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Energy storage installations around the world are projected to reach a cumulative 411 GW (or 1,194 GWh) by the end of 2030, according to the latest forecast from research company BloombergNEF (BNEF). That is 15 times the 27GW/56GWh of storage that was online at the end of 2021.

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BNEF ups forecast for global investment in stationary energy storage, sees majority of capacity likely to be grid-scale

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Energy storage installations around the world will multiply exponentially, from a modest 9GW/17GWh deployed as of 2018 to 1,095GW/2,850GWh by 2040, according to the latest forecast from research company BloombergNEF (BNEF). Global cumulative energy storage installations. Source: BloombergNEF.

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BNEF: energy storage is a $1.2-trillion investment opportunity to 2040

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The falling cost of batteries is set to drive a boom in the installation of energy storage systems around the world in the years from now to 2040, according to the latest annual forecast from research company Bloomberg NEF (BNEF). The global energy storage market will grow to a cumulative 942GW/2,857GWh by 2040, attracting $1.2

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Pike Research forecasts worldwide grid energy storage spending to reach $22B by 2021, down from 2010 forecast of $35B

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In its new report Energy Storage on the Grid (ESG), Pike Research forecasts that global spending in the ESG market will reach a little over $22 billion over the next 10 years. This is a downward revision from the $35B the firm forecast for ESG spending through 2020 in a report published last August. Earlier post.).

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Hydro-Québec and Sony forming JV to develop large-scale Li-ion energy storage system for power grids

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Hydro-Québec and Sony Corporation will establish a joint venture to research and develop a large-scale energy storage system for power grids. Furthermore, the energy storage system for such power supplies must be highly safe and reliable due to the need for an efficient and stable source of high capacity power.

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IBM introduces new wind and solar forecasting system for utilities; big data analytics and weather modeling to predict output

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The solution combines weather prediction and big data analytics to forecast accurately the availability of wind power and solar energy. This will enable utilities to integrate more renewable energy into the power grid, the company says. This amount of additional energy can power roughly more than 14,000 homes.

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DOE awarding up to $30M to 13 projects to integrate solar into US grid

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The US Department of Energy (DOE) Office of Energy Efficiency and Renewable Energy (EERE) SunShot Initiative will award up to $30 million to 13 new projects to support the integration of solar energy into US electric grid, while diversifying the nation’s electricity sources and improving the reliability and security of the electric grid.

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