info@marketresearchfuture.com   📞 +1 (855) 661-4441(US)   📞 +44 1720 412 167(UK)   📞 +91 2269738890(APAC)

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 2024

Experts 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

2024.png

Latest News

2025.png
Quadric and Denso Team Up to Progress Automotive AI Semiconductors for 2025

The automotive industry will benefit significantly from strategic partnerships in artificial intelligence (AI) and its use in cars. AI integration into automobiles is projected to improve considerably in the year 2025 due to the formation of various…

Read More

2024.png
Semiconductor Trade Restrictions Threaten EV, AI, and Industrial Progress in 2025

In 2025, the global semiconductor industry is already grappling with new and complex challenges emanating from the trade wars and policy changes between the United States and China. The semiconductor industry, an essential backbone of technology…

Read More

2030.png
Surge in Demand for Semiconductors in 2025 Driven by Boom of Generative AI

The rapid use of generative artificial intelligence (AI) in 2025 has profoundly affected the semiconductor sector, resulting in unprecedented growth for advanced chip technologies. According to estimates made by the Capgemini Research Institute, this…

Read More

condition.png
Texas Faces Challenges to Balance Grid Security and AI Boom in 2025

Texas will face an emerging challenge in 2025 as the electricity grid experiences unprecedented strain from the rapid expansion of artificial intelligence (AI) data centers. Power usage has increased due to technology firms' indiscriminate placement…

Read More

Stocks.png
Tech Turmoil in 2025: Magnificent Seven Stocks Slide as Tesla Leads Market Decline

With the "Magnificent Seven”- Apple, Microsoft, Amazon, Alphabet, Meta, Nvidia, and Tesla leading the fall, the US stock market saw a significant dip in early 2025. Usually seen as market drivers, these IT behemoths found themselves in the correction…

Read More

Author Pic
Shubhendra Anand

Head Research