Packaging Manufacturer Collabs with Solar Projects to Enhance Cleantech in 2024
Battery Storage Is The Leading Energy Investment In 2024
By Shubhendra Anand , 20 May, 2024
Energy storage is the main component in the clean energy transition as it facilitates the storage and discharge of energy. Battery storage is expected to support clean energy transition in the upcoming years. A survey shows battery storage can be a great asset in the energy investment sector in 2024.
Based on a survey from the International Energy Agency (IEA), battery storage was the leading technology to support the energy sector in 2023. Experts believe that battery storage is expected to double in 2024. It is mainly due to the clean energy transition that energy storage is considered for better performance. Renewable energy is needed for the greener transformation to accelerate the clean energy transition in 2024. Renewables like solar and wind energy are the main components facilitating the clean energy transition in 2024. Batteries are needed mainly for clean energy transition. This is due to the increased usage of batteries in the grids, solar home systems, electric vehicles, and other uses worldwide. Electric vehicles account for most batteries, with 14 million new electric cars in 2023. However, it is expected that electric vehicles will double in 2024. The electric vehicles sector witnessed around 40 percent growth in 2023, and the same is expected for the year 2024Experts believe that the growth of electric vehicles will ultimately lead to the development of battery storage. According to the data from 2023, 85 gigawatts of battery storage was used in the power sector dedicated to the electric vehicles sector. It is reported that 90 percent of the demand for lithium-ion batteries 2024 will be in the energy sector. The growing demand for electric vehicles to support clean energy transition is due to the increasing demand.
Battery Storage Capacity In 2024
Latest News
Packaging Manufacturer Collabs with Solar Projects to Enhance Cleantech in 2024
Companies are making significant moves towards the clean energy transition in various ways. In order to reduce carbon emissions, certain companies are investing in several rescue methods in 2024. Renewables production is growing over time as the…
Amazon Enables News Technologies to Help its Business Customers
Amazon is one of the leading global e-commerce platforms for consumers. The brand boosts its online shopping experience for users in multiple ways. Surveys show that Amazon regulates several business solutions to increase its products and services…
Asian Carbon Emissions Affects West’s Clean Energy Transition Process in 2024
Globally, countries are facing challenges in the transformation of green energy. The economies worldwide target to achieve net zero emissions. Hence, countries are introducing several ways to reduce environmental carbon emissions. Developing…
China to Boost Oil and Gas Production from New Sources in 2024
China is the leading nation in the energy market. Since the clean energy transition focuses on renewables, China surpasses other nations in renewables production. In a mission to strengthen its energy security, China moves forward with oil and gas…
China Copper Export Increases in the Global Market
There will be a surge in copper demand in the energy market in 2024. The growing demand for copper contributes to different usages in the energy market. China stands out in the copper exports of 2024. The Chinese economy is booming, with an…
Shubhendra Anand
Head Research
