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31 May
11:17

Global battery storage investment to rise to $38 billion this year: IEA

Global investment in battery storage is expected to continue a rapid growth journey nearly doubling to $38 billion this year, the International Energy Agency (IEA) estimates. Last year, spending on battery storage reached just over $20 billion -- $8 billion in China, $6 billion in the US, $5 billion in Europe and $1 billion from OECD Pacific. In 2023, the IEA forecasts growth will come mainly from utility-scale battery storage systems to help increase grid flexib…
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