EnergyTechnology

Global Battery Storage Market Set for Explosive Growth, Projected to Hit $54 Billion by 2032

Analysts project the battery energy storage system market will surge from $8.23 billion in 2024 to $54.34 billion by 2032. This remarkable growth, driven by renewable energy integration and technological advances, highlights the critical role of energy storage in modern power grids. Industry sources indicate sustainable energy policies and falling battery costs are accelerating market expansion globally.

Battery Storage Market Poised for Transformative Growth

The global energy storage landscape is undergoing a dramatic transformation, with the battery energy storage system (BESS) market projected to experience exceptional expansion throughout this decade. According to recent market analysis, the sector is expected to grow from USD 8.23 billion in 2024 to USD 54.34 billion by 2032, representing a compound annual growth rate of 26.61% between 2025 and 2032. Industry observers suggest this growth trajectory underscores the increasingly critical role of storage solutions in global energy infrastructure.

EnergyPolicy

Energy Secretary Faces Scrutiny as UK Bills Rise Amid Clean Power Debate

Energy Secretary Ed Miliband faced tough questions on the Sunday political programme as millions saw energy bills rise despite government promises of long-term savings. The debate highlighted tensions between net-zero policies and immediate cost pressures facing households across the UK.

Political Showdown Over Energy Prices

Energy Secretary Ed Miliband reportedly faced intense scrutiny during today’s episode of Sunday with Laura Kuenssberg, which was hosted by Victoria Derbyshire. According to reports, the discussion centered on the government’s clean energy agenda amid rising household bills that have increased by 2% for millions of UK consumers this month.