IEA Special Report Highlights Energy Storage

IEA Special Report Highlights Energy Storage

According to the IEA's Special Report on Batteries and Secure Energy Transitions, batteries are pivotal in the current global energy landscape and are set to become even more crucial in facilitating secure and clean energy transitions.

In recent years, batteries have witnessed unprecedented growth, emerging as one of the fastest-growing energy technologies globally. In 2023 alone, battery storage in the power sector experienced a remarkable surge, more than doubling its deployment year-on-year.

Electric vehicles (EVs) contributed significantly to this surge, with a 40% increase in battery deployment, representing a staggering 14 million new electric cars hitting the roads. Lithium-ion batteries have been at the forefront of this revolution, dominating the market due to their remarkable cost reductions and performance improvements.

Government support has played a pivotal role in accelerating the adoption of batteries, particularly in markets like China, the European Union, and the United States. Strong policy incentives for EVs and battery storage have spurred market expansion, paving the way for widespread adoption across the globe.

Despite their transformative potential, batteries face several challenges that could hinder their growth trajectory. These include scaling up the supply of critical minerals, ensuring sustainable end-of-life management through recycling, and addressing regulatory barriers to deployment. The International Energy Agency urges policymakers, regulators, and industry stakeholders to collaborate to address key challenges and maximize opportunities.

To read the IEA’s report, visit

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