March 31, 2025 - BY Admin
The battery energy storage systems (BESS) market continues to drive global battery demand, with over 205 GWh of storage deployed in 2024, marking an impressive 53% increase compared to the previous year. This surge highlights the industry's rapid growth, driven by large-scale projects and expanding capacity.
Gigascale Projects Take the Lead
2024 was undeniably the year of gigascale BESS projects, with 17 new installations exceeding 1 GWh capacity each. This is a significant jump from just four such projects coming online in 2023. The momentum is set to continue, as over 1 TWh of grid storage capacity is projected for 2025-2027, encompassing around 140 projects over 1 GWh.
Regional Highlights and Key Installations
Among the top installations in 2024 were projects like Yueshuidian Kashi Bachuxian Solar + Storage (1,416 MWh) and Gemini Solar + Storage (1,300 MWh), highlighting the growing trend of integrating solar and wind with storage solutions. Notably, 71% of new projects paired with solar, while 13% paired with wind, and 50% of projects were grid-paired.
Looking Ahead
With the pipeline of large BESS projects slated for the next few years, the industry is poised for further growth, driven by increasing energy demands and the global push for renewable integration.
Stay tuned as we track the evolving landscape of battery storage and the innovations driving the energy transition!
