Part 7/11:
Growth in Global Battery Storage
The global battery storage market is witnessing impressive growth, with Bloomberg New Energy Finance reporting a rise from 17.5 gigawatt-hours in 2020 to 89.6 gigawatt-hours in 2023. China has emerged as the largest energy storage market, overtaking the U.S. in the sector. This expansion of battery storage is likely to benefit the EV market, contributing to increased volumes and economies of scale.