Menu
Menu
Energy storage is pivotal in transitioning to renewable sources like wind and solar, enabling surplus energy generated during high-production periods to be stored and released when demand peaks. This balances the inherent intermittency of renewables and stabilizes the power grid.
Over the past decade, lithium-ion batteries have dominated the market, with costs dropping by over 90%. Emerging technologies like sodium-ion batteries, thermal and gravity storage, and combinations with clean hydrogen aim to diversify and enhance the energy system’s efficiency.
The global energy storage market is projected to reach 360 GWh by 2024 and exceed 2 TWh by 2030, with China driving growth. Innovation continues to reduce costs, accelerating the adoption of sustainable solutions worldwide.
Other Articles
Warning Notice
The content of this section is presented exclusively in English, and the comments or opinions expressed in the news articles are not related to Oreasoc Group Inc. or its affiliated entities, nor do they necessarily represent the official position of the company, its directors, or employees. We expressly disclaim all liability for the content of external sources.
By selecting links within the articles in this section, you may be redirected to external websites that are not affiliated with Oreasoc Group Inc. We assume no responsibility for the content, accuracy, or privacy practices of such external sites. Your interaction with any external website is at your own risk.