As renewable energy sources like solar and wind dominate new energy installations, battery energy storage system (BESS) installations are rising alongside, driven by falling battery prices, supportive policies, and increased electricity market volatility.
The International Energy Agency forecasts that the world will add over 5,500 gigawatts (GW) of new renewable energy capacity by 2030, with solar alone accounting for 80% of that growth.
In Europe, the demand for batteries to support this shift is expected to grow by 30–40% annually, according to SolarPower Europe, with Germany projected to install 136 gigawatt hours (GWh) of BESS by 2045.
A study by Fraunhofer, a leading German institute, anticipates an even greater increase, predicting 178 GWh of battery storage to be installed by 2040.
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