Energy storage investment is expanding alongside broader clean-energy and grid spending. The figures below distinguish estimates from observed results, planned capacity from operating assets, and power capacity in GW or MW from energy deployment in GWh.
Key Energy Storage Investment Statistics
The most useful headline figures span global investment, regional concentration, U.S. deployment, construction costs and company-reported activity:
- In 2024, global energy investment was expected to exceed $3 trillion worldwide, according to an IEA estimate.
- In 2024, clean-energy technologies and infrastructure were expected to receive about $2 trillion worldwide.
- In 2024, global battery-storage investment was projected at $54 billion worldwide.
- In 2024, global grid investment was expected to reach $400 billion worldwide.
- In 2024, China was expected to spend almost $680 billion on clean energy, including batteries and other categories.
- In 2024, the European Union was projected to spend about $370 billion on clean energy.
- In 2024, U.S. clean-energy investment was estimated at more than $300 billion, or 1.6 times its 2020 level.
- In 2023, only one cent went to other emerging and developing economies for every dollar invested in battery storage in advanced economies and China.
- In 2024, U.S. cumulative utility-scale battery-storage capacity exceeded 26 GW.
- In 2024, U.S. generators added 10.4 GW of utility-scale battery-storage capacity.
- In 2025 plans, U.S. operators reported 19.6 GW of additional utility-scale battery storage.
- In November 2023, California had 7.3 GW and Texas had 3.2 GW of installed battery storage.
- In 2024, reported U.S. battery-storage construction cost totaled $16.3 billion for EIA-included installations.
- In 2024, the U.S. capacity-weighted average battery-storage construction cost was $1,469 per kW.
- At the end of 2023, U.S. utilities reported 575 operating batteries totaling 15,814 MW.
- Through the end of 2028, utilities reported plans for 35,953 MW of additional U.S. battery capacity.
- U.S. utility-scale battery gross generation rose from 24 thousand MWh in 2014 to 557 thousand MWh in 2020.
- Tesla reported 31.4 GWh of worldwide energy-storage deployments in 2024.
Contents
- Global energy storage investment scale
- Regional battery-storage investment trends
- U.S. energy storage capacity and project pipeline
- Energy storage construction costs
- Energy storage deployment and operating use cases
- Corporate energy storage deployments and market signals
Global Energy Storage Investment Scale and Clean-Energy Capital
The IEA’s 2024 outlook places storage inside a much larger investment system. Its estimates cover different scopes, so battery storage, grids, clean energy and fossil fuels should not be treated as interchangeable totals.
| Measure | Period and geography | Figure |
|---|---|---|
| Total energy investment | 2024 estimate, world | More than $3 trillion |
| Clean-energy technologies and infrastructure | 2024 estimate, world | About $2 trillion |
| Battery-storage investment | 2024 estimate, world | $54 billion |
| Grid investment | 2024 estimate, world | $400 billion |
The IEA described global grid spending as about $300 billion annually from 2015 through 2021, compared with its expected $400 billion in 2024. Upstream oil-and-gas investment was expected to reach $570 billion in 2024, up 7% from 2023, while nuclear investment was projected at $80 billion, nearly double its 2018 level.
Source: Overview and key findings – World Energy Investment 2024 and Investment in clean energy this year is set to be twice the amount going to fossil fuels.
Oil-and-gas companies invested $30 billion in clean energy in 2023, equal to 4% of their capital spending. That is a company-sector clean-energy measure rather than a storage-specific investment total.
Regional Battery-Storage Investment Trends and Emerging-Market Concentration
Regional comparisons show that storage investment follows a highly concentrated clean-energy market. The figures below include broader clean-energy spending where stated, because the IEA does not present every regional total as battery-only investment.
| Geography | Period | Clean-energy investment or comparison |
|---|---|---|
| China | 2024 estimate | Almost $680 billion |
| European Union | 2024 outlook | About $370 billion |
| United States | 2024 estimate | More than $300 billion; 1.6× 2020 |
| Emerging/developing economies outside China | 2024 estimate | Nearly $320 billion; more than 50% above 2020 |
China’s clean-energy investment was about 75% above its 2020 level in the IEA outlook. Advanced-economy clean-energy investment was about 50% above 2020, while the emerging and developing economies outside China were expected to approach $320 billion and exceed their 2020 level by more than 50%.
The storage-specific concentration is sharper than these broad clean-energy comparisons. In 2023, for every dollar invested in battery storage in advanced economies and China, only one cent went to other emerging and developing economies; advanced economies and China also accounted for 80% of global grid spending in the IEA outlook.
Source: Overview and key findings – World Energy Investment 2024 and Investment in clean energy this year is set to be twice the amount going to fossil fuels.
U.S. Energy Storage Capacity and Project Pipeline Statistics
U.S. utility-scale battery storage expanded rapidly in 2024. EIA generally reports nameplate power capacity, so GW and MW here should not be read as energy-capacity measures such as GWh.
| U.S. utility-scale battery measure | Period | Figure |
|---|---|---|
| Cumulative capacity | 2024 | More than 26 GW |
| Capacity added | 2024 | 10.4 GW |
| Share of 1,230 GW utility-scale generation capacity | 2024 | 2% |
| Additional capacity in operator plans | 2025 | 19.6 GW |
| Available capacity | July 2024 | More than 20.7 GW |
The July 2024 EIA inventory counted installations of at least 1 MW and recorded 5 GW added during the first seven months of the year. For historical context, only 4 MW of utility-scale battery storage was added in the United States in 2010.
Developers planned more than 300 U.S. utility-scale battery projects to come online by 2025, with about 50% of planned capacity additions expected in Texas. As of November 2023, installed capacity was 7.3 GW in California, 3.2 GW in Texas and about 3.5 GW across all other states together; planned and operating capacity totaled about 16 GW at the end of 2023.
Source: U.S. battery capacity increased 66% in 2024, Batteries are a fast-growing secondary electricity source for the grid, and U.S. battery storage capacity expected to nearly double in 2024.
Energy Storage Construction Costs and Investment Amounts
EIA’s 2024 generator-cost data provides a direct view of reported U.S. construction spending. These are installed-generator construction costs, not lifetime levelized costs, and the total covers EIA-reported included projects rather than the entire market.
| U.S. battery-storage measure | 2024 figure |
|---|---|
| Reported construction cost | $16.3 billion |
| Capacity-weighted average cost | $1,469/kW |
| New-plant installations | 10,195 MW across 154 plants |
| Additions at existing plants | 904 MW across 16 plants |
| Average new-plant capacity | 66 MW |
| Average existing-plant addition | 57 MW |
Regional capacity-weighted averages varied. The South averaged $1,463/kW, the West $1,642/kW, the Midwest $2,764/kW and the Northeast $2,465/kW in 2024.
These regional values describe the included installation mix and reported construction costs for that year. They do not establish a universal price for every project, technology configuration or future build.
Source: Electricity: Construction cost data for electric generators.
Energy Storage Deployment, Generation and Operating Use Cases
Operating inventories and generation data show how investment translates into installed assets and electricity-system activity. The EIA operating-battery count is based on utility respondents and operating units, while the generation series reports gross generation.
At the end of 2023, U.S. utilities reported 575 operating batteries with 15,814 MW of combined capacity. Based on reported plans, utilities expected U.S. battery capacity to increase by 35,953 MW by the end of 2028, although planned additions were not guaranteed to reach operation.
| Technology and measure | 2014 | 2020 |
|---|---|---|
| U.S. utility-scale battery gross generation | 24 thousand MWh | 557 thousand MWh |
| U.S. pumped-storage gross generation | 20,054 thousand MWh | 21,073 thousand MWh |
Pumped storage is a different technology and is included for context rather than as a direct comparison with battery storage. The EIA table also distinguishes gross from net generation, and storage generation is not equivalent to electricity produced from a primary fuel.
Five of the largest U.S. battery projects scheduled for 2024–2025 in the EIA list were 621 MW, 600 MW, 500 MW, 500 MW and 443 MW. These were scheduled projects in California and Texas, so their sizes represent a forward project list rather than completed capacity.
Source: Utilities report batteries are most commonly used for arbitrage and grid stability, Investment in power grids and storage by region 2017-2024, and U.S. battery storage capacity expected to nearly double in 2024.
Corporate Energy Storage Deployments and Forward Market Signals
Company disclosures provide individual market signals, not industry-wide totals. Tesla reported 31.4 GWh of worldwide energy-storage deployments in 2024 in its annual report.
The broader investment context also shifted over time. The IEA reported that the clean-power-to-unabated-fossil-power investment ratio was about 2:1 in 2015 and was expected to reach 10:1 in 2024; global clean-energy investment in 2024 was projected at about $2 trillion, while fossil-fuel investment was about half that amount.
In 2023, each dollar invested in wind and solar PV produced 2.5 times more energy output than a dollar invested in the same technologies roughly a decade earlier. This is an IEA comparison of investment productivity for wind and solar, not a measured storage outcome.
U.S. forward indicators also included a February 2024 EIA projection of 14.3 GW of battery-storage additions in 2024 against 15.5 GW of existing capacity. Another EIA planning estimate projected utility-scale solar and battery storage together at 81% of new U.S. electric-generating capacity in 2024, with battery storage alone at 23%; these were December 2023 plans and earlier forecasts, so later preliminary inventories reported different realized capacity.
Source: Tesla Motors, Inc. Form 10-K for the year ended December 31, 2024, Overview and key findings – World Energy Investment 2024, and U.S. battery storage capacity expected to nearly double in 2024.