In a new report, Bloomberg New Energy Finance (BNEF) has upgraded its view on the amount of battery-based stationary energy storage systems that may be installed through 2040, reaching 7% of all global installed generating capacity. BNEF now sees that over 900 GW may be installed representing $1.2 trillion in investment. Part of the reason is that BNEF sees battery costs falling by half over this period. Most of the installations will be utility-scale but will be overtaken by on-site, behind-the-meter systems near the end of the period. As large as this market for batteries maybe, it will still be much smaller than the market for batteries in vehicles.
ABOUT THE AUTHOR
Gary Simon is the Chair of CleanStarts Board. A seasoned energy executive and entrepreneur with 45 years of experience in business, government, and non-profits.