- Energy Transition to drive uptake in BESS
- Forecast says China will take lion share in BESS demand by 2030
The global energy transition is set to further drive the demand for battery energy storage systems (BESS) from an initial demand capacity of 0.12TWh (in 2021) to 2.5TWh by 2030. The 2.5TWh will account for the global share (29%) of total battery demand, only bested in capacity by electric vehicles for passengers which will take up 4.9TWh. A recent report by Rystad energy indicates that the forecast increase comes in line with the response to global warming and global climate change plans being led by the United Nations.
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Rystad energy reckoned that if global climate targets are to be met, then the supply of battery energy storage will have to be nothing short of 5.5TWh by 2030 and this will only cover 60% of global requirements. However, things are expected to have a better outlook with many large scale production factories being deployed rapidly. In terms of market share, the highest battery energy storage demand (41%) is expected to come from China by the end of the current decade, while North America and Europe would take up only 1.7TWh and 1.9TWh, respectively.