Energy Storage in 2024: Records, Innovations, and New Markets
2024 was a groundbreaking year for the energy storage industry. Record-breaking deployments, increasing technology diversity, and expansion into new global markets are just some of the major trends that shaped this rapidly growing sector. Below is an overview of the largest energy storage projects, including both lithium-ion and alternative technologies.
Largest Completed Lithium-Ion Project – Edwards & Sanborn in California
In January 2024, the full completion of the Edwards & Sanborn project in Kern County, California was announced. This facility combines an 875 MW solar farm with a 3.287 MWh energy storage system (BESS). The solar farm uses 1.9 million solar panels manufactured by U.S. industry leader First Solar. The lithium-ion batteries were supplied by international energy storage technology leaders LG, Samsung, and BYD. The resulting facility is the largest of its kind in the world.
The first phase of the project, covering half of the total capacity, was completed in 2021. However, the additional 1,600 MWh that became operational in 2024 set a new global standard for this category. The total grid connection capacity is 1.3 GW, meaning Edwards & Sanborn can power hundreds of thousands of homes, businesses, and public institutions. The energy produced is currently being delivered to major organizations and businesses in California, including:
San Jose, which uses the energy to power its city networks and infrastructure.
California Edison and Pacific Gas & Electric Co., two of the largest energy suppliers in the region, responsible for distributing electricity to millions of customers.
Starbucks, the global leader in the food and beverage industry, which uses renewable energy in its sustainability efforts.
This project symbolizes not only the power of lithium-ion technology but also its scalability in hybrid energy production and storage systems.
Largest Announced Lithium-Ion Project – 2.8 GWh ‘Green Turtle’ in Belgium
In 2024, the largest announced lithium-ion project was the ‘Green Turtle’ with a capacity of 2.8 GWh, developed by Dutch developer Giga Storage. Originally announced as 2.4 GWh in January, the project has been expanded and is set to begin operations in 2028. The planned battery park in Dilsen-Stokkem, Belgium, will be able to serve 385,000 households.
While larger projects have been reported in the United States (such as 4 GWh by Brookfield in Oregon and Stellar Renewable Power in Arizona), ‘Green Turtle’ remains the largest officially disclosed project in 2024. This investment highlights Europe’s growing ambitions to scale energy storage technology, both for grid stabilization and supporting renewable energy sources.
Largest Completed Non-Lithium-Ion Project – 175 MW/700 MWh VRFB in China
Alternative energy storage technologies also reached new heights in 2024. In China (in the city of Ushi), Rongke Power completed a project with a capacity of 175 MW and 700 MWh, utilizing vanadium redox flow battery (VRFB) technology. This is currently the largest energy storage facility of its type in the world and a significant step forward in the development of non-lithium solutions.
This investment not only shattered last year’s records (which were just 20 MWh) but also emphasized the potential of VRFB for long-term energy storage. Notable innovations in China in 2024 include the largest sodium-ion storage facility with a capacity of 100 MW/200 MWh and the first large project based on gravity-based energy storage technology from Energy Vault, with a power capacity of 25 MW and 100 MWh.
What Was Missing in This Year’s Report?
Unlike previous years, there is no clear leader in categories such as the largest financial package for energy storage projects or the largest contract between battery suppliers and system integrators. This could indicate that the industry is maturing. In 2024, many financings involved comprehensive portfolios that included both energy storage and renewable energy, making it difficult to identify a single leader.
Experts agree that in the coming years, the continued diversification of technologies and the introduction of new solutions for a wide range of applications will be crucial.
Source: energy-storage.news