Battery energy storage systems: a complex but promising route to clean-energy transition
For investors, excitement in the renewable energy landscape is palpable. Renewable energy capacity is being added to the world’s energy systems at the fastest rate in two decades, prompting the International Energy Agency to revise its forecasts for 2027 upwards by 33 per cent. However, further growth will depend on investment in a key technology: battery storage.
Finding ways to store energy is critical to stabilising the power grid as it accommodates increasing volumes of energy from sources with unpredictable outputs, such as wind and solar. A utility-scale battery energy storage system (BESS) can stabilise the unstable, build grid resilience and enhance efficiency. These capabilities have prompted predictions that the market will be worth $150bn by 2030.
Even so, the global BESS market is highly complex…
