Worldwide grid-scale battery electricity storage system capacity was 55.7GW in 2023
Energy storage provides the flexibility to supply energy when needed, using various forms such as chemical, kinetic, thermal, and gravitational potential. The choice of storage depends on location and reserve service, as different technologies offer varying capacities and durations. Traditional fuel storage has long been common, but integrating intermittent renewable sources necessitates energy storage for a resilient, low-carbon network. Strategically placed storage can prevent costly network upgrades and enhance grid security through interconnection. Applications range from small-scale systems in homes to utility-scale storage. Examples include lithium-ion batteries, pumped hydroelectric storage, and ice storage tanks. Surplus renewable electricity can produce hydrogen for long-term storage, and electric vehicles can also serve as storage systems. As energy storage becomes crucial for a sustainable future, evaluating technologies for cost, efficiency, material sustainability, and safety is essential.
Learn more about storage by reading our Energy Insights.
Read our New Energy World articles on how energy storage fits into strategies for carbon reduction.
Learn about recent public funding for research and development of energy storage on our policy milestone calendar.
$0billion
plus was invested in battery energy storage in 2022 (IEA)
0Mt
of hydrogen was used globally in 2022 (IEA)
0TWh
of utility scale energy storage capacity is forecast to be in place by 2050 (DNV)
0GW
of pumped hydropower storage capacity is estimated to be in place by 2030 (International Hydropower Association)
What's new?
World’s first industrial-scale carbon capture plant at a cement facility moves into commissioning phase
11/12/2024
The plant’s carbon capture system, compression system, heat integration system, intermediate storage and loadout facilities are now complete and ready...
New Indonesian President signs off $7bn gas project while reaffirming 2050 net zero target
4/12/2024
The $7bn Tangguh Ubadari CCUS Compression (UCC) project will comprise development of the Ubadari gas field, enhanced gas recovery through CCUS and ons...
Second Scotland-England subsea interconnector is approved
27/11/2024
The EGL1 project involves the installation of a 196 km high-voltage, bi-directional subsea cable between Torness in East Lothian, Scotland, and Hawtho...
Big Oil bets on biofuels as part of energy transition
27/11/2024
Major players such as BP, Chevron, Shell, TotalEnergies, ExxonMobil and Eni, finding themselves under increasing regulatory and market pressures to re...
‘World first’ green hydrogen transport and storage demo to use existing terminal infrastructure
20/11/2024
LOHCs are organic compounds that can absorb and release hydrogen through chemical reactions and can therefore be used as a means of storing and transp...
Events and training
Hazardous Area Classification - April 2025
8/4/2025 - 10/4/2025
This 3-day training course will provide delegates with training on the Energy Institute Model Safe Code of Practice 15, Area Classification for Instal...
Hazardous Area Classification - November 2025
4/11/2025 - 6/11/2025
This 3-day training course will provide delegates with training on the Energy Institute Model Safe Code of Practice 15, Area Classification for Instal...
Technical guidance publications
No publications found.