Why is Pakistan's solar power market booming?

Pakistan’s market for solar power is booming, propelled by a surge in imports from China, according to BloombergNEF. The country imported some 13 gigawatts of solar modules in the first six months of the year, making it the third-largest destination for Chinese exporters, according to a report by BNEF analyst Jenny Chase.

What do we expect in the energy storage industry this year?

This report highlights the most noteworthy developments we expect in the energy storage industry this year. Prices: Both lithium-ion battery pack and energy storage system prices are expected to fall again in 2024.

How is India promoting energy storage?

India is taking steps to promote energy storage by providing funding for 4GWh of grid-scale batteries in its 2023-2024 annual expenditure budget. BloombergNEF increased its cumulative deployment for APAC by 42% in gigawatt terms to 39GW/105GWh in 2030.

What will energy storage be like in 2024?

In 2024, the global energy storage is set to add more than 100 gigawatt-hours of capacity for the first time. The uptick will be largely driven by the growth in China, which will once again be the largest energy storage market globally.

Who are BNEF's energy storage experts?

In this AskBNEF session, Helen Kou and Sonny Zou, two of BNEF's energy storage experts, will join Albert Cheung, Head of Global Analysis, to discuss the outlook for stationary energy storage costs and implications for market participants.

Will energy storage grow in 2022?

Global energy storage’s record additions in 2022 will be followed by a 23% compound annual growth rate to 2030, with annual additions reaching 88GW/278GWh, or 5.3 times expected 2022 gigawatt installations. China overtakes the US as the largest energy storage market in megawatt terms by 2030.