Global battery energy storage (BES) deployment grew 51.8% in 2022 from 2021, with 17.54 GW/38.2 GWh commissioned.2022 was a historic turning point in the clean energy transition. Despite constraints in the supply of critical minerals and materials, shipping, and sitting and permitting processes, BES is a burgeoning technology poised for accelerated growth.

New York, Feb. 20, 2023 (GLOBE NEWSWIRE) -- Reportlinker.com announces the release of the report "Battery Energy Storage Growth Opportunities" - https://www.reportlinker.com/p06421082/?utm_source=GNW
Global battery energy storage (BES) deployment grew 51.8% in 2022 from 2021, with 17.54 GW/38.2 GWh commissioned.
2022 was a historic turning point in the clean energy transition.

Despite constraints in the supply of critical minerals and materials, shipping, and sitting and permitting processes, BES is a burgeoning technology poised for accelerated growth.

A mix of geopolitical, economic, and climate factors pushed governments to scale the extent and pace of climate action.

Governments formed policies and plans with long-term effects for renewable energy (RE) and BES, a critical element for the much-needed flexibility and resilience that modern energy systems require.

Frost & Sullivan forecasts the global market to grow nearly six-fold, reaching $71.98 billion with a cumulative capacity of 499.10 GW/1,340.00 GWh by 2030.BES market expansion is bringing higher sophistication and specialization through the value chain, leading to the diversification of business models and opportunities in BES systems.

Considerable growth is expected in AI-based software platforms, multi-technology power purchase agreements (PPAs), second-life applications, and increasing use of batteries in hybrid systems, data centers, fast charging infrastructure, power retailers’ net-zero homes programs, and virtual power plants (VPPs).This study provides a regional-level forecast and analysis of how residential, commercial and industrial, and grid-scale battery storage capacity and investments will evolve through the course of this decade, with deep dives into main countries.

It discusses the main trends in supply, technology, business models, and use cases.

In addition, it highlights growth opportunities for industry participants, including co-location, second-life batteries, and digital products.
Author: Maria Benintende
Read the full report: https://www.reportlinker.com/p06421082/?utm_source=GNW

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