Battery Oversupply and Price Drops Challenge Energy Storage Industry Amidst Rising Protectionism

  • 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.

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