new installations of global energy storage are poised to reach 74GW/173GWh in 2024
year-on-year growth of 33% and 41%
China, the United States, and Europe contributing a whopping 85% to the total installations
residential energy storage, projections for new installations in 2024 stand at 11GW/20.9GWh, reflecting a modest 5% and 11% increase
Commercial and Industrial (C&I) Energy Storage: Anticipated for 2024, new installations are projected to soar to 8GW / 19GWh, marking a staggering 128% and 153% year-on-year increase
Utility-scale Energy Storage: Forecasted for 2024, new installations are set to reach 55GW / 133.7GWh, reflecting a solid 33% and 38% increase
Asia: Expected to reach 82 GWh in new installations in 2024, marking a 41% year-on-year increase.
Europe: Expected to achieve 32 GWh in new installations in 2024, representing a substantial 55% year-on-year increase
Americas: Anticipated to achieve 49 GWh in new installations in 2024, marking a robust 31% year-on-year increase.
United States is projected to contribute 88% of the total installations in the Americas in 2024.
MEA (Middle East and Africa): Projections indicate new installations reaching 10 GWh in 2024, showcasing a robust 54% year-on-year increase.