Global battery oversupply and faster-than-expected price drops are occurring amidst rising global protectionism.
Tesla deployed 31.4 GWh of energy storage in 2024, a 213% increase from 2023.
Bloomberg New Energy Finance forecasts almost 2.4 TWh of battery energy storage by 2030.
Batteries are projected to surpass pumped hydro storage (PHS) in power output by 2025 and in energy storage capacity by 2030.
Battery Oversupply and Price Drops Challenge Energy Storage Industry Amidst Rising Protectionism
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