It will be another record year for energy storage installations globally, but the two largest markets – China and US – may face challenges
Despite representing only 9% of installed U.S. battery energy storage capacity at the end of 2023, 98% of battery systems—over 215,000 systems—were residential applications.
This growth highlights the importance of battery storage when used with renewable energy, helping to balance supply and demand and improve grid stability. Energy
Following a surge in installed renewable energy capacity during the energy crisis, European countries now grapple with a growing issue of
The remarkable growth in U.S. battery storage capacity is outpacing even the early growth of the country''s utility-scale solar capacity.
Global cumulative solar photovoltaic (PV) capacity rose to more than 2.2 terawatts (TW) by the end of 2024, up from 1.6 TW in 2023, with over
Figure 2: Cumulative installed capacity of new energy storage projects commissioned in China (as of the end of June 2023) In the first half of
For most countries and technologies, the data reflects the capacity installed and connected at the end of the calendar year. Data has been obtained from various sources, including an IRENA
China market: Pumped Hydro Storage share falls below 50% for the first time. Non-hydro Storage accumulative installations surpass 50GW for the first time. According to
With renewable sources expected to account for the largest share of electricity generation worldwide in the coming decades, energy storage will play a significant role in
The remarkable growth in U.S. battery storage capacity is outpacing even the early growth of the country''s utility-scale solar capacity. U.S. solar capacity began expanding in
The rapid growth of variable solar and wind capacity in states such as California and Texas supports growth in battery storage, which works by storing excess power in periods
The global new energy storage sector is experiencing a period of rapid expansion. According to CNESA, the cumulative installed capacity of new energy storage
In all areas: electricity generation growth, installed capacity growth, and cost competitiveness, solar PV domination is now overwhelming.
Cost performance is expected improve sharply (-60% by 2040), boosting capacity deployment LDES capex evolution vs. power capacity additions 12h LDES capex, USD/kWh 36h LDES
The era of battery energy storage applications may just be beginning, but annual capacity additions will snowball in the coming years as
China''s new energy storage sector has seen a rapid growth in 2024, with installed capacity surpassing 70 million kilowatts, said an official with the National Energy
Against this backdrop, the International Energy Agency (IEA) forecasts in its ''Renewables 2024'' that the annual global PV installed capacity
According to incomplete statistics from the CNESA DataLink Global Energy Storage Database, as of the end of June 2025, China''s cumulative installed capacity of power
We expect 63 gigawatts (GW) of new utility-scale electric-generating capacity to be added to the U.S. power grid in 2025 in our latest Preliminary Monthly Electric Generator
Cumulative installed capacity for renewables will increase from 2,052.2 GW in 2021 to 8,032 GW in 2035 at a CAGR of 10.2%. Share of renewables will increase from 25.2% in 2021 to 53.8%
Energy storage installations surpassed expectations in 2024, with over 200GWh of capacity installed worldwide. This marks yet another
Mainland China accounts for most of the global energy storage demand, driven in the near term by regional requirements for new utility-scale
The era of battery energy storage applications may just be beginning, but annual capacity additions will snowball in the coming years as storage becomes crucial to the world''s
That amounted to an increase in cumulative operating battery storage of 80% in megawatt terms, bringing it to a total of 9,054MW, and a
The United States'' residential energy storage market set an all-time quarterly growth record, with 346 MW of residential storage installed in the third quarter of 2024. This is
By the end of 2023, China''s cumulative installed capacity of wind power was 441 GW, an increase of 20.7% y-o-y. Wind power thus accounted for 15% of the total installed power, of which 404
We expect cumulative US solar capacity to more than triple from 236 GWdc installed at year-end 2024, to 739 GWdc installed by 2035, with average annual capacity additions of more than 45 GWdc. This outlook is based on available information at the time of report publication.
Together, solar and battery storage account for 81% of the expected total capacity additions, with solar making up over 50% of the increase. Solar. In 2024, generators added a record 30 GW of utility-scale solar to the U.S. grid, accounting for 61% of capacity additions last year.
This amount represents an almost 30% increase from 2024 when 48.6 GW of capacity was installed, the largest capacity installation in a single year since 2002. Together, solar and battery storage account for 81% of the expected total capacity additions, with solar making up over 50% of the increase. Solar.
PV represented more than 75% of all new renewable generation capacity installed globally in 2024. You may download the report without submitting responses. However, if you respond then this form will not reappear in future. Thank you. Would you like to sign up for our quarterly PV Power Newsletter?
The community solar segment installed 1,745 MWdc in 2024, marking its largest-ever year of capacity and a remarkable 35% increase over 2023. This growth was driven by record-breaking capacity additions in New York, Maine, and Illinois. Capacity in New York reached 861 MWdc, a 66% increase year-over-year as interconnection conditions improved.
Community solar installations increased by 35% year-over-year in 2024, resulting in 1,745 MWdc of new capacity and a record-breaking year for the segment. Installed capacity in New York and Maine drove this impressive growth, with Q4 2024 volumes greatly exceeding previous expectations.
