IDTechEx expects stationary storage capacity of 2 TWh by 2033
Post date: 07/12/2022 - 15:14
The total capacity of stationary Battery Energy Storage Systems (BESS) installed worldwide will exceed two terawatt hours (TWh) by 2033 as a result of the increasing integration of renewable energy into the power supply. This forecast is made in the report »Batteries for Stationary Energy Storage 2023-2033« by market research firm IDTechEx Inc.
According to the report, lithium-ion batteries currently make up the bulk of stationary storage, accounting for around 90 percent. Market development through 2033 will be driven primarily by the U.S. and China, IDTEchEx estimates, because they offer the best combination of government targets, clear market rules and profitable business models. Front-of-the-meter storage systems integrated into the grid will play a much larger role in overall development than small and medium-sized end-use storage, according to the report.