Solar Storage Market to Grow 20-fold by 2030

Global energy storage is estimated to grow to 358 GW/ 1 TW-hours or 20 times larger in the next 9 years according to the 2021 Global Energy Storage Outlook (November 2021) by Bloomberg New Energy Finance (NEF). This boom in energy storage is projected to require $262 billion in investment. The US and China are the largest markets, representing over half the projected clean energy storage installations globally.

BNEF projects that storage by homeowners and businesses will comprise about one quarter of storage installations by 2030. During this decade, lithium-ion battery chemistries will dominate the quickly evolving battery technology market.