Storage market to 'add 30 GW a year by 2030'
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The global energy storage market will add over 30 GW (gigawatt) a year by 2030, up 250% on 2021 levels, according to a report from the Clean Energy Technology service at IHS Markit.
IHS Markit said it forecasts that energy storage will experience rapid growth in 2021, with installations reaching over 12 GW, an increase of over 7 GW from 2020.
It added that this will mark the start of a period of continued expansion, with annual global installations set to exceed 20 GW in 2024 and 30 GW by 2030.
The outlook is underpinned by a growing number of ambitious national energy storage targets linked to strengthened decarbonisation commitments from around the globe, the report said.
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