Amid a global buildout of energy storage resources, the Inflation Reduction Act will drive the development of an additional 30 GW/111 GWh from 2022 to 2030, according to BloombergNEF.
The law, passed in August, provides $369 billion for clean energy, including incentives for storage, wind and solar. Analysts warn, however, there may be barriers to immediate development.
“While the new tax credit policy supports more growth based on BNEF’s long-term forecast, supply chain constraints cloud deployment expectations until 2024,” the firm said.
Globally, energy storage capacity will reach a cumulative 411 GW/1,194 GWh by the end of 2030, or about 15 times the installed capacity at the end of 2021, BNEF said. Its storage market outlook for the second half of 2022, published Wednesday, included about 13% more capacity over…