Grid-scale Battery Market to reach $24.5 Billion by 2030; The growing integration of renewable energy, the need for grid reliability, and the rise of electric vehicles, the grid-scale battery market is experiencing significant growth. Additionally, s

The Grid-scale Battery Market size is estimated to reach $24.5 Billion by 2030, growing at a CAGR of 22.6% during the forecast period 2024-2030, according to a recent report published by IndustryARC, titled, Grid-scale Battery Market - By Ownership Model (Third-Party-Owned, Utility-Owned), By Battery Type (Lithium-Ion, Lead Acid, Flow Battery, Sodium-Based Battery, Others), By Deployment (Transmission Network, Distribution Network, Renewable Energy Generators), By Application Type (Peak Shifting, Renewable Integration, Ancillary Services, Backup Power, Others), By Geography - Global Opportunity Analysis & Industry Forecast, 2024-2030.

The market for grid-scale batteries is expected to increase rapidly due to the electric vehicle revolution, the need for grid stability, and the growing use of renewable energy. This change is being accelerated by technological advancements and supportive government policies.

North America holds 38% of the market share for grid-scale battery market. North America, particularly the U.S., has faced an increasing number of extreme weather events such as heat waves, freezes, heavy downpours, tornadoes, tropical cyclones and floods in recent years, intensifying the need for grid resilience. Due to these factors North America is also expanding its renewable energy capacity, and grid-scale batteries are essential for integrating this growing amount of intermittent energy into the power grid. Battery energy storage is rapidly gaining traction in Texas. The state is set to add 6.5 GW of new utility-scale battery storage in 2024, as per U.S. Energy Information Administration (EIA) data, bringing the total capacity to around 10 GW. North America's dominance in grid-scale battery adoption is anticipated to increase as it makes more investments in sustainable energy infrastructure and system modernisation.

As grids integrate more renewables, the need for long-duration energy storage, capable of lasting through extended periods of low generation, is increasing. This is driving interest in technologies beyond lithium-ion to meet the specific needs of a renewable-powered future. Government policies and financial incentives have been instrumental in the rapid growth of the grid-scale battery market. The U.S. Department of Energy’s (DOE) Office of Electricity (OE) awarded $15m to launch innovations for long duration energy storage Earthshot. These incentives have lowered the financial barriers to entry for utilities and energy companies looking to invest in battery storage.

Environmental benefits are a key factor behind the growth of grid-scale batteries, as they help reduce greenhouse gas emissions by displacing fossil-fuel peaker plants. In addition to reducing emissions, grid-scale batteries contribute economic benefits by lowering peak demand costs and enhancing grid efficiency. According to International Energy Agency, Global energy-related CO2 emissions hit a new record high of 37.4 Gt in 2023, increasing by 1.1% or 410 Mt compared to 2022. Coal emissions accounted for over 65% of this growth. Therefore, grid-scale batteries could contribute significantly to carbon reduction by offsetting gas peaker plants, which are among the most polluting sources of electricity.

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