Long-duration energy storage projects attract over $58b in investment in last 3 years

This could lead to 57GWs of energy storage capacity, Wood Mackenzie reported.

Long-duration energy storage (LDES) across the globe attracted over $58b in investment commitments since 2019, Wood Mackenzie reported.

This could lead to a total installation of 57 gigawatts of LDES, which is equivalent to three times the global energy-storage capacity deployed in 2022.

“To accelerate the energy transition, more renewable energy sources will be used for generating power, but this in turn presents challenges for the reliability and stability of the power system. Some technology solutions exist today, but they are far from meeting society’s power needs,” Kevin Shang, Senior Research Analyst at Wood Mackenzie, said.

“Long-duration energy storage technology, with longer durations of 8 to approximately 100 hours, holds great promise as a low-cost solution to enable a grid with more renewable sources. This is why companies and governments have significantly increased their commitment to the LDES market.”

Follow the link for more news on

Wood Mackenzie

APAC Energy Storage Market

Also Read

Rooftop solar battery attachments up 35.5% in Q4 2023

JERA and ReNew to collaborate on green ammonia production project

Since you're here...

...there are many ways you can work with us to advertise your company and connect to your customers. Our team can help you dight and create an advertising campaign, in print and digital, on this website and in print magazine.

We can also organize a real life or digital event for you and find thought leader speakers as well as industry leaders, who could be your potential partners, to join the event. We also run some awards programmes which give you an opportunity to be recognized for your achievements during the year and you can join this as a participant or a sponsor.

Let us help you drive your business forward with a good partnership!

I want to download the media kit