BNEF predicts 305GWh of energy storage worldwide by 2030

Facebook
Twitter
LinkedIn
Reddit
Email
Global cumulative storage deployments. Image: BNEF.

The rise of energy storage will enjoy a similarly meteoric trajectory to that enjoyed by solar PV deployment in the past and could reach 305GWh of installations by 2030, BNEF has predicted.

The market is set to “double six times” between the years 2016 and 2030, reaching 125GW / 305GWh, Bloomberg New Energy Finance claims. The research group yesterday published a new report, “Energy storage forecast 2016 – 2030”.

This article requires Premium SubscriptionBasic (FREE) Subscription

Unlock unlimited access for 12 whole months of distinctive global analysis

Photovoltaics International is now included.

  • Regular insight and analysis of the industry’s biggest developments
  • In-depth interviews with the industry’s leading figures
  • Unlimited digital access to the PV Tech Power journal catalogue
  • Unlimited digital access to the Photovoltaics International journal catalogue
  • Access to more than 1,000 technical papers
  • Discounts on Solar Media’s portfolio of events, in-person and virtual

Or continue reading this article for free

BNEF calls the expected rise of energy storage during this time as having a “similar trajectory” to that seen in the solar PV market globally between 2010 and 2015. In those five years solar PV capacity doubled seven times over. It is expected that around US$103 billion could be invested in the technology to facilitate this expansion into the mainstream.

While BNEF considers that that sum will be invested, broadly speaking, equally across the regions of Asia-Pacific, Europe, the Middle East and Africa and in the Americas. Despite this, around a quarter of all deployments are expected to be in the US, with 70% of all installed capacity predicted to be spread across that country as well as in China, Japan, India, Germany, Australia, South Korea and the UK.

“Energy storage, both utility-scale and behind-the-meter, will be a crucial source of flexibility throughout this period and will be essential to integrating increasing levels of renewable energy,” BNEF staff wrote in a statement.

At the beginning of this year, the International Renewable Energy Agency (IRENA) claimed that around 1GWh of battery storage was in use worldwide by the electricity sector, predicting that it could rise to 250GW by 2030 in its “REThinking Energy 2017: Accelerating the global energy transformation” report.

Read Next

June 6, 2025
ElectraNet has revealed that renewables supplied 100% of South Australia's electricity demand for 27% of 2024, roughly 99 days.
June 5, 2025
Policy uncertainty in the US is likely to disrupt investment in clean energy, according to a recent report from Crux.
June 4, 2025
Tariffs on US imports will increase the cost of US solar PV and energy storage technologies and slow the rate of project development, according to analysis from Wood Mackenzie.
June 2, 2025
Indonesia has ratified the PLN Electricity Supply Business Plan 2025–2034, targeting 42.6GW of renewable energy generation.
May 30, 2025
Solar and wind curtailment have increased by 29% between 2023 and 2024 in California, according to the US Energy Information Administration.
May 26, 2025
Australia's NSW government has proposed developing the state’s first urban REZ in Illawarra, which could be delivered as early as 2030.

Subscribe to Newsletter

Upcoming Events

Solar Media Events
June 17, 2025
Napa, USA
Upcoming Webinars
June 30, 2025
10am PST / 6pm BST
Solar Media Events
July 1, 2025
London, UK
Solar Media Events
July 1, 2025
London, UK
Solar Media Events
September 16, 2025
Athens, Greece