IRENA Unveils First Global Energy Storage Industry Report in China’s Ningde

On November 7, the International Renewable Energy Agency (IRENA), a leading global intergovernmental organization for energy transition, unveiled its energy storage report titled Key Enablers for the Energy Transition: Solar and Storage Preliminary Findings at the 2024 World Energy Storage Conference in Ningde, located in Fujian province, eastern China.

Building on the UAE Consensus, the report examines how to establish national and global energy storage installation targets in a scientifically sound manner. It also discusses strategies for channeling key resources—such as funding, technology, and talent—into the energy storage sector through policy initiatives. The goal is to accelerate global energy storage deployment and ensure that the growth of energy storage aligns with the development of renewable energy, thereby driving forward the global energy transition more effectively.

The report also highlights the critical importance of safety in energy storage systems. Currently, some energy storage products with subpar quality and inadequate safety designs have entered the market due to the absence of safety standards and empirical testing. This lack of regulation is seen as a major barrier to the widespread adoption of energy storage technologies worldwide. As a result, the report advocates for the establishment of a safety standard framework and validation platform for energy storage, with the aim of supporting the sustainable growth of the industry.

The report was developed by members of IRENA's newly-formed "Energy Storage and Grid Reliability" International Action Group, with CATL serving as the leading contributor. It marks the first global energy storage report created with full involvement from Chinese companies.

"In 2023, global renewable energy generation capacity increased by a record 473 GW, marking the largest growth ever. While this was a 54% rise compared to 2022, it still fell short of the 1,043 GW needed annually to meet the targets set by the UAE Consensus," said Raul Alfaro Pelico, Director of the IRENA Center for Knowledge, Policy, and Finance. He emphasized that to achieve the UAE Consensus goal of "tripling renewable energy capacity and doubling energy efficiency by 2030," it will be essential to significantly boost global investments in renewable energy, power grids, flexible resources, and energy storage.

As a global industry leader, CATL is eager to engage in practical and effective collaboration with domestic and international partners in the photovoltaic and energy storage sectors. Our goal is to jointly advance the creation of an international and sustainable platform, contributing to the high-quality development of the energy storage industry," said Tan Libin, Chief Customer Officer and Co-president of Sales and Market System at CATL.