Battery Storage Is the No. 1 Energy Investment Playground

Battery storage was the fastest-growing energy technology in the power sector in 2023, with deployment more than doubling year-on-year, the International Energy Agency (IEA) has revealed.  Strong growth was recorded for utility-scale battery projects, mini-grids, solar home systems and behind-the-meter batteries, adding a total of 42 GW of battery storage capacity globally. However, electric vehicles continue to account for the vast majority of batteries used in the sector, with 14 million new electric cars hitting the records in 2023,…