A Total Of 16GW Of Energy Storage Systems Will Be Deployed Globally in 2022, A Year-on-year Increase Of 68%

According to a research report recently released by Bloomberg New Energy Finance (BNEF), the installed capacity of energy storage systems deployed globally has continued to grow. Last year, a total of 16GW of energy storage systems were deployed, a year-on-year increase of 68%.

The company's Energy Storage Market Outlook Series report shows that the global energy storage market will experience record growth in 2022. This growth is expected to continue in the coming years and is projected to grow at a CAGR of 23% from this year to 2030. picture

In the U.S., 7.2GW of utility-scale energy storage projects were delayed last year due to rising battery prices.

The Europe, Middle East and Africa (EMEA) region deployed 4.5GW of energy storage systems last year. Germany and Italy, in particular, lead the European energy storage market, a trend expected to continue until 2025 due to high retail electricity prices and government incentive programs to support household deployment of residential batteries. Currently, the deployment of household energy storage systems in the EMEA region accounts for the largest share of the global energy storage market.

By 2030, the installed capacity of energy storage systems installed in the EMEA region will account for 24% of the total installed capacity of the global energy storage market. , the installed capacity of energy storage projects planned and deployed in Greece, Romania, Spain, Croatia, Finland and Lithuania will also increase.

In the next few years, the Asia-Pacific region (APAC) is likely to dominate the growth of the global energy storage market, accounting for 44% of the world's new installed energy storage system capacity in 2030. Driven by local targets and mandatory renewable energy integration policies, China is expected to lead the Asia Pacific (APAC) energy storage market development. It is estimated that by 2030, China will surpass the United States to become the world's largest energy storage market. Bloomberg New Energy Finance (BNEF) said it has raised its forecast for China's energy storage market growth by 66% due to the establishment of provincial-scale energy storage deployment targets, electricity market reforms and industry expectations to support a large number of new capacity additions.

In Japan, local governments have announced subsidy programs for battery storage systems; while South Korea has set a target of deploying 25GW (127GWh) of storage systems by 2036. Meanwhile, India has announced a plan to fund the deployment of 4GWh of battery energy storage in its annual expenditure budget for 2023-2024.

It is estimated that by 2030, in terms of installed capacity, the Americas region will account for 21% of the total installed capacity of the global energy storage market. Led by the deployment of large-scale energy storage projects in California and Texas, the United States has become the largest energy storage market in the Americas. In the US, 7.2GW of energy storage projects were delayed last year due to rising battery costs.

Elsewhere in the Americas, electricity market reforms in Chile will pave the way for more energy storage deployments in Latin America, an emerging energy storage market. The energy storage market in Chile and Brazil will continue to grow due to increased generation from solar and wind facilities in Chile and Brazil, as well as grid challenges in Mexico due to underinvestment.