The global energy storage market will grow exponentially over next decade, with investment of some $103bn underpinning an installed worldwide capacity expected to mushroom to over 125GW by 2030, according to the latest calculus from Bloomberg New Energy Finance (BNEF).
The spending spree, forecast to be “spread equally” across the Americas, Asia Pacific and Europe, Middle East and Africa regions, is expected to be led by eight countries, with 70% of the new battery fleet wired in in the US, China, Japan, India, Germany, UK, Australia and South Korea.
