Battery energy storage systems (BESS) are a configuration of interconnected batteries designed to store surplus electrical energy and release it for future demand. BESS therefore offer practical solutions to address the challenges of power intermittency. As the world shifts towards greener energy generation sources such as solar PV and wind, the development of battery energy storage will be critical to meeting future energy demand.

Global BESS capacity increased by 60% in 2022 from the previous year, with total new installations exceeding 43 GWh. Another 74 GWh will be added this year – an increase of 72% – driven primarily by lower BESS system costs, incentives in North America and government financing programs in Europe, along with strong renewable capacity expansion in mainland China.(*)