BloombergNEF forecasts that global energy storage additions will rise 45% year over year to 188 GW/535 GWh in 2026. China, the US and Australia are expected to account for 62% of installations. India’s annual additions are projected to exceed 6 GW, 26 times last year’s volume, while Australia will nearly double its annual deployment.
Annual additions are forecast to increase another 11% to 209 GW/638 GWh in 2027 as deployment broadens across more markets. BloombergNEF expects cumulative storage capacity to grow tenfold from 2025 levels, reaching 3 TW or 11 TWh by 2036.
Global Energy Storage Additions to Reach 188 GW in 2026
Projected additions rise 45% year-on-year in gigawatts, with India and Australia emerging as new growth centers.
China, the US and Australia account for 62% of energy storage projects installed in 2026.
China’s deployment remains strong despite last year’s phaseout of a policy mandating storage with renewable energy projects. New support includes a firming requirement for standalone solar and wind projects and a renewed 300 GW deployment target for 2030. US growth is supported by preserved tax credits and demand for on-site storage at data centers.
In Europe, Bulgaria, Romania, Poland, France, Greece, the Netherlands and Ukraine are expected to join the UK, Germany and Italy with gigawatt-scale additions. Spain, the United Arab Emirates, Chile and Japan are projected to accelerate deployment in 2027. By 2036, growth is expected to shift toward Latin America, Sub-Saharan Africa, Southeast Asia and additional European markets.
Lithium iron phosphate is expected to remain the primary energy storage chemistry over the next decade because of its cost competitiveness, cycle life and supply chain position. Sodium-ion batteries are gaining traction amid higher LFP material prices and offer lower fire risk and operation across a wider temperature range, but limited manufacturing scale and cost competitiveness remain barriers.
Supply chain localization policies are also reshaping the market. The US is using tariffs, domestic production incentives and restrictions involving Chinese supply chains, while cybersecurity and supply security concerns are influencing European Union and Japanese policies. Chinese suppliers are consequently targeting less restrictive markets in the Middle East, Latin America and Sub-Saharan Africa.
Renewable-plus-storage deployment is also expanding. By the end of 2025, 69 GW/196 GWh of storage had been paired with 299 GW of solar capacity, driven partly by solar curtailment and price cannibalization.
Source: about.bnef.com
