Challenges for the energy storage global market

As many countries have committed to net zero economies, energy storage systems will play a key role in ensuring the effective integration of a higher share of renewable energy sources into the grid.

POWER magazine, a publication focused on power generation industry news and events, talked with our Senior Manager of Energy Storage, Matthew Towery, about the global market for energy storage and its development in the coming years.

In this interview, you will find the answer to questions such as:

• Do you think growth in energy storage will continue, and if so, at what pace? If you think growth will slow, why?
• What are the current major challenges for the energy storage sector?
• Are there new storage technologies being developed that will support the industry? Will utilities drive growth in energy storage, or will more growth come from private (or governmental) investment in storage projects?

As Matthew Towery said, “…The demand for energy storage will continue to grow. […], energy storage installations are set to reach a cumulative 411 GW (or 1,194 GWh) of capacity at global level by the end of 2030.This is 15 times greater than the storage capacity that was online at the end of 2021 (27 GW or 56 GWh)”.

The full interview is available here: https://www.powermag.com/the-power-interview-challenges-for-the-energy-storage-market/