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Battery Energy Storage System Installed Base

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SOURCE RESEARCH

Battery Energy Storage for Enterprises and Industries: Renewables Buffering, Pricing Volatility Mitigation, and Power Resilience

Report | 1Q 2024 | AN-5842

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The chart above shows the installed Battery Energy Storage System (BESS) capacity for both the commercial and industrial segments. The share of commercial will increase from 30% in 2020 to 60% by 2030 as battery deployments in mainstream office buildings gain momentum, as opposed to the early traction seen in industrial segments like mining and data centers in the first half of the forecast period. Overall growth will be fueled by fast decreasing price levels as the BESS segment scales to a mass market opportunity.