This report is part of World Energy Outlook 2023
About this report
Batteries are an important part of the global energy system today and are poised to play a critical role in secure clean energy transitions. In the transport sector, they are the essential component in the millions of electric vehicles sold each year. In the power sector, battery storage is the fastest growing clean energy technology on the market. The versatile nature of batteries means they can serve utility-scale projects, behind-the-meter storage for households and businesses and provide access to electricity in decentralised solutions like mini-grids and solar home systems. Moreover, falling costs for batteries are fast improving the competitiveness of electric vehicles and storage applications in the power sector.
The IEA's Special Report on Batteries and Secure Energy Transitions highlights the key role batteries will play in fulfilling the recent 2030 commitments made by nearly 200 countries at COP28 to put the global energy system on the path to net zero emissions. These include tripling global renewable energy capacity, doubling the pace of energy efficiency improvements and transitioning away from fossil fuels.
This special report brings together the latest data and information on batteries from around the world, including recent market developments and technological advances. It also offers insights and analysis on leading markets and key barriers to growth. By looking at the entire battery ecosystem, from critical minerals and manufacturing to use and recycling, it identifies synergies and potential bottlenecks across different sectors. The report also highlights areas that call for greater attention from policy makers and industry.