Rystad, a well -known Norwegian energy research and business intelligence company, said that by 2030, the global battery energy storage capacity will exceed 400 Gava, which is equivalent to 10 times the current installed capacity of new installations.
Battery energy storage system (BESS) is a connected battery configuration that is designed to store excess electrical energy and release it to meet the upcoming needs. Therefore, BESS provides practical solutions for solving the intermittent problem of power. With the world transitioning to more environmentally friendly power generation to solar photovoltaic and wind energy, the development of battery storage will become the key to meet future energy demand.
Last year, the global BESS installed capacity increased by 60%over the previous year, and the total installation of more than 43 Gavaco. This year, it will increase another 74 Gavaco, an increase of 72%, mainly due to the decrease in BESS costs, North American incentive measures, European government funding plans, and the strong expansion of the Asian continental renewable energy capacity.
By 2030, the annual installation of the BESS market will reach 110 GW, of which 58%will be developed in Asia. North America will account for about 20 Gava. Europe will be installed with 18 Gava, and the remaining 8 Gava will come from other parts of the world. This is the current transformation of the trend, because the installation volume is expected to be dominated by North America by the end of 2023, and North America will account for 45%of the total installation capacity of the BESS.
