Energy storage capacity worldwide 2023-2030, by technology

In 2023, the global electricity storage landscape was dominated by pumped hydropower. Battery storage is projected to grow nine-fold between 2023 and 2030, surpassing pumped hydro by over 450 gigawatts by that year.

Battery and pumped hydro capacity by country

Projections indicate that the capacity of battery storage systems will grow exponentially in China, the United States, and Europe. These countries were the global leaders in terms of installed battery capacity in 2023 and will account for a little over 90 percent of the total capacity in 2030. China was also the country with the largest pumped storage hydropower in 2023, followed by Japan.

Cost of energy storage technologies

The cost of battery energy systems depends on the battery chemistry. In 2023, it ranged from a maximum of 2,000 U.S. dollars per kilowatt-hour for zinc-bromine batteries to 90 U.S. dollars per kilowatt-hour for sodium-ion ones. By comparison, the cost of pumped hydropower storage was lower than that of batteries, at 60 U.S. dollars per kilowatt-hour.