“`markdown
According to InfoLink’s Global Energy Storage Supply Chain Database, global energy storage cell shipments reached 314.7 GWh in 2024, marking a significant 60% year-over-year increase. The market experienced an initial decline, followed by a strong recovery, with shipments in Q4 2024 rising by 19.7% quarter-over-quarter, achieving the highest annual total for the year. The industry remains highly concentrated, with the top ten manufacturers dominating the landscape.
A Battery Energy Storage System (BESS) is described as a modular electrochemical framework designed to store energy from the grid or distributed generation sources. This system utilizes rechargeable battery modules equipped with management controls, employing high-density lithium-ion cells or alternative chemistries such as sodium-sulfur or vanadium redox flow batteries to manage charge and discharge cycles. These systems are integrated with power conversion equipment and a battery management system.
The rapid growth in renewable solar and wind energy has outpaced the development of corresponding energy storage systems. The increase in atmospheric CO2 levels, which reached 419.3 ppm in 2023, has exacerbated heatwaves and droughts. The wildfires in Southern California in 2025 led to 180,000 evacuations and resulted in at least 10 fatalities. In response, the global community is adopting Net Zero strategies to combat climate change, with the European Union aiming for net-zero emissions by 2050.
According to BloombergNEF, the cost of clean power technologies—including wind, solar, and battery systems—is expected to decrease by 2-11% in 2025, surpassing last year’s record lows. New wind and solar farms are now competitive with coal and gas plants in terms of production costs.
In a call for action, the photovoltaic sector is urging the acceleration of administrative procedures that hinder the development of energy storage and green hydrogen, which are essential for the energy transition. Joan Groizard, Secretary of State for Energy, emphasized that Spain is a leader in renewable energy and is focused on decarbonizing all sectors.
In the first week of February 2025, Spain approved ten photovoltaic and hybridization projects, including a 9 MW self-consumption plant in Córdoba and a 27.3 MW photovoltaic solar park project in Cabeza Mesá.
Canadian Solar Inc. announced a contract with Copenhagen Infrastructure Partners to deliver 240 MW/960 MWh battery energy storage systems in Australia. Meanwhile, Spain approved twenty-four photovoltaic and hybrid projects totaling 1.69 GW in January 2025.
The U.S. energy transition is progressing swiftly, with utility-scale wind and solar generation seeing a growth of 298.8 million megawatt-hours (MWh) since 2019, exceeding the 202.3 million MWh increase in overall power demand. This demonstrates that renewables can meet rising energy needs while displacing fossil fuels.
The energy storage market added 175.4 GWh of installed capacity in 2024, with projections for 2025 expecting to reach 221.9 GWh, representing a 26.5% year-over-year increase. Battery energy storage systems (BESS) are becoming increasingly vital for enhancing grid stability and allowing for greater integration of renewable energy.
The UAE has launched the world’s first large-scale ’round-the-clock’ gigascale project that combines solar power with battery storage in Abu Dhabi, marking a milestone in renewable energy development.
As renewable energy generates one-third of the world’s electricity, there is hope that this momentum will be sufficient to limit global warming to 1.5 degrees Celsius above preindustrial levels. The shift in the global energy supply is evident, with the share of solar and wind power in the electricity mix nearly quadrupling within a decade.
“`
Original article by NenPower, If reposted, please credit the source: https://nenpower.com/blog/trends-and-developments-in-global-energy-storage-insights-from-2024/
