Global renewable power capacity set to jump by 50% in next 5 years

The International Energy Agency’s (IEA) ‘Renewables 2019’ market analysis is predicting a huge increase in renewable energy and technologies in the coming five years.

With renewable energy capacity predicted to grow by 1,200 GW by 2024, the role of batteries in energy storage applications will become ever-more significant.  

The IEA’s latest report identifies solar as the power behind the huge hike in renewables growth. Global solar capacity is forecast to grow by 600 GW by 2024 - this alone represents nearly double the total installed electricity capacity of Japan.

Solar energy storage projects, which are often combined with battery energy storage as a tool to store energy when the sun isn’t shining or demand is not high, rely on batteries such as advanced lead battery technology.

CBI’s interactive map showcases more than 100 examples of energy storage battery installations in action, from the world’s highest solar farm in Tibet, to microgrids in remote areas, to Europe’s most isolated island communities receiving 24-power for the first time. Supported by advanced lead batteries, solar panels generate energy from the sun and then store it in the batteries to ensure reliable, affordable and sustainable energy.

With the cost of solar power expected to decline by 15% by 2024, the appetite for solar projects across the world is growing, from homes to commercial premises. CBI has recently announced the launch of a new technical roadmap prioritizing research and innovation into improving cycle life performance of advanced lead batteries, a key parameter for utility and renewable energy storage applications.

As the world transitions to a low-carbon future with a greater uptake of clean energy through solar and wind projects, advanced lead battery technology is prepared to meet the demand.