A Look into The Future of Global Battery Investments

To meet 2030's environmental objectives, a major shift in energy storage is needed: IEA states global battery capacity must grow sixfold. This expansion is expected to be driven by battery energy storage solutions, contributing to 90% of the increase, complemented by pumped hydro energy storage solutions. A 40% decrease in the cost of lithium-ion batteries is projected by 2030, spurred by ongoing advancements and economies of scale.

For the past three years, the global battery manufacturing industry is booming, doubling in size recently, with significant growth in China. The US and EU are committing to substantial battery production increases, essential for achieving net-zero emissions within the 2030.

The boldest predictions show that by 2030, should all the announced new battery manufacturing plans be implemented, the manufacturing capacity within these economies will be capable of supporting their requirements to realize net-zero emissions targets by 2030. The total global investment in batteries is projected to reach $800 billion.

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