There is now 150GW/348GWh of globally installed capacity, according to the database, which focuses on grid-scale battery energy storage systems (BESS).
How big is energy storage in 2024?
By the end of 2024, the cumulative installed and operational capacity of new energy storage projects nationwide reached 73.76 GW/168 GWh, approximately 20 times that of the end of the 13th Five-Year Plan and more than 130% higher than at the end of 2023.
What is large-scale energy storage?
Large-scale energy storage enables the storage of vast amounts of energy produced at one time and its release at another. This technology is critical for balancing supply and demand in renewable energy systems, such as wind and solar, which are inherently intermittent.
Other storage includes compressed air energy storage, flywheel and thermal storage. Hydrogen electrolysers are not included. Global installed energy storage capacity by scenario, 2023 and 2030 - Chart and data by the International Energy Agency.
Global energy storage installed capacity grew 93.8% YoY in the first half of 2024, coming in at 64.9 GWh. A total of 57.3 GWh came from utility-scale storage (including C&I), up 118% year-on-year. Meanwhile, 7.6 GWh came from the residential sector, up 7.7% year-on-year.
By the end of 2023, China had completed and put into operation a cumulative installed capacity of new type energy storage projects reaching 31.4GW / 66.9GWh, with an average storage duration of 2.1 hours. The newly added installed capacity in 2023 was approximately 22.6GW / 48.7GWh, which is three times that for 2022 (7.3GW / 15.9GWh).
The distribution of installed capacity by region was as follows: North China (30.1%), Northwest China (25.4%), East China (16.9%), Central China (14.7%), Southern China (12.4%), and Northeast China (0.5%). New energy storage stations are increasingly centralized and large-scale.