Technology Applications
Pages 71–95 (25 pages)
Text on page 93
US and China remain the largest ESS markets. Major policies such as Inflation Reduction Act (IRA) and RePowerEU+ stimulate ESS market growth
IRA drives development of 111 GWh (30 GW) of energy storage from 2022 to 2030, 15X the installed capacity of 2021
Grid-scale ESS installations dominate the storage capacity, with steady growth of behind-the-meter markets Li-ion-based (particularly LFP) ESS is likely to dominate for the next decade due to price competitiveness, while emerging non-Li-ion technologies progress towards demonstrations/commercialization for utility markets Industry: Technology Applications Source: BloombergNEF (Oct 2022), Wood Mackenzie (July, 2022)
Volta Foundation
Extracted from the PDF; charts and images may read imperfectly.
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