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The energy storage capacity could increase by 122 times in 20 years

Bloomberg New Energy Finance has released its “Energy Storage Outlook 2019” report.

According to the statement made regarding the report, energy storage capacity, which was at the level of 9GW/17GWh at the end of 2018, will increase 122 times to 1,095GW/2,850GW by 2040.

Investments of around $662 billion will be made in the next 20 years to achieve this capacity.

The decline in the cost of lithium-ion batteries, which has decreased by 85% from 2010 to 2018, will continue, and by 2030, it will decrease by another 50%.

South Korea will lead the market in 2019, with China and the US emerging as leaders after 2020, maintaining their leadership until 2040. India, Germany, Latin America, Southeast Asia, France, Australia, and the UK will be other important markets.