Energy storage market set to reach 1TWh by 2030

In spite of supply chain issues, the energy storage market is set for substantial growth towards the end of this decade, according to a new analysis from Bloomberg NEF.

Battery storage is viewed as the solution to preserving energy generated from solar and wind installations.. | Photo: Casper Dalhoff/IND

The stage is set for a profusion of renewable energy in coming years. And since a large portion of renewable energy is produced from wind and solar energy and therefore is highly dependent on weather conditions, it’s crucial that it is complemented by a substantial amount of storage capacity for whenever the sun and wind are absent.

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