Total global capacity now stands at approximately 270 GW, with projections indicating the market will reach 1,545 GW by 2034 - nearly a sixfold increase. Energy storage has established itself as a critical component of the global energy transition.
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Here, we unpack the latest data to show where the clean energy transition stands today — and where it may be headed next. 2% in 2024, outpacing the average annual growth rate of 1.
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Globally, battery prices just sustained their deepest year-over-year plunge since 2017 according to an analysis by research firm BloombergNEF (BNEF). Lithium-ion pack prices dropped 20% from 2023 to a record low of $115 per kilowatt-hour.
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The project involves the construction of a sophisticated 60 MW battery energy storage system (BESS) combined with a virtual power plant (VPP) in Šibenik.
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