Stationary storage to account for 2.5twh of battery demand in 2030
Global battery demand for stationary energy storage applications is seen to surpass 2.5 TWh in 2030, a surge from 0.14 TWh in 2021, Rystad Energy said last week.
This dramatic increase will be driven by the expansion of renewable energy capacity and the energy transition.
Stationary storage will represent 29% of the total battery demand at the end of the decade, ranking second after passenger electric vehicles (EV), whose share of roughly 55% translates into 4.9 TWh of demand.
The total battery demand across different applications and in line with a 1.6-degree global warming scenario is set for a 15-fold increase by 2030, from 2021 levels, to nearly 9 TWh.
Rystad’s calculations, based on announced targets, show that battery supply in 2030 would stand at 5.5 TWh. This is enough to meet just 60% of global demand, but the supply outlook is expected to change as gigafactory plans are emerging fast in different parts of the globe.
Battery demand from Asia, led by China, will account for 41% of the market in 2030, or 3.6 TWh, under the energy research and business intelligence company’s forecast. Europe and North America will contribute 1.9 TWh and 1.7 TWh, respectively. These two continents are focused on building own capacities in order to reduce their reliance on imports from Asia.