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Briefing
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- $1 Billion for Energy Storage – World Bank announced it will invest $1 billion in battery storage for energy systems in developing and middle-income nations
- Increased Battery Storage – Aims to finance 17.5 gigawatt-hours (GWh) of battery storage by 2025, more than triple current four to five GWh of energy storage installed in developing countries
- Benefits – Will expand use of renewables as well as increase energy security, improve grid stability, and enhance access to electricity in developing countries
- Sample Technologies – Include utility-scale solar parks with battery storage, off-grid systems, standalone batteries, as well as emerging battery technologies that are long-lasting and resilient to harsh conditions, and pose minimal environmental risk
- Global Think Tank – Will form global think tank on battery storage comprised of national laboratories, research institutions, development agencies and philantrophies, which will develop and adapt new storage technologies to needs of developing countries
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