An increase in grid-scale battery energy storage capacity more than doubled worldwide in 2023, reaching 55.7 GW and marking a 120.8% increase from the previous year. At this growth rate, the International Energy Agency target of 1,300 GW of capacity needed to meet the 1.5° C global warming goal will be achieved by 2028, two years earlier than the target year of 2030.
According to the Energy Institute’s annual Statistical Review of World Energy, China is the leader in this realm, having installed nearly half the world’s grid storage battery capacity. The country added over 19 GW of storage to its grid, increasing from 7.8 GW to 27.1 GW. The U.S. increased its capacity from 9.3 GW to 15.8 GW; California’s 8.6 GW capacity is the largest of any state and more than twice that of second-place Texas.
Source: Energy Institute
When considered together, the U.S. and China have deployed over 75% of the world’s grid storage battery capacity. South Africa experienced the largest annual growth rate of capacity of 29,300%.
