IRENA Releases Groundbreaking Energy Storage Report in Ningde, China

On November 7, the International Renewable Energy Agency (IRENA), a prominent intergovernmental agency promoting global energy transformation, presented a new energy storage report titled Key Enablers for the Energy Transition: Solar and Storage Preliminary Findings. This report was introduced at the 2024 World Energy Storage Conference in Ningde, located in Fujian Province, eastern China.

The report, aligned with the UAE Consensus framework, addresses scientifically setting both national and global targets for energy storage installations. It examines how policy can effectively channel critical resources—such as funding, technology, and talent—into the energy storage sector. The objective is to accelerate global energy storage deployment and ensure that the growth of energy storage is in step with renewable energy development, thus advancing the global energy transition.

A central focus of the report is the importance of safety in energy storage systems. Currently, some storage products on the market lack adequate safety standards and testing, resulting in products with inferior quality and insufficient safety design. This shortfall is viewed as a key obstacle to widespread adoption of energy storage technologies globally. Consequently, the report advocates for a standardized safety system and a verification platform for energy storage, aiming to support sustainable industry growth.

Prepared by members of IRENA's recently-formed “Energy Storage and Grid Reliability” International Action Group, with China’s CATL as a major contributor, this report marks the first global energy storage report developed with full participation from Chinese companies.

In 2023, new global renewable energy capacity reached 473 GW—a record increase, though still below the 1,043 GW needed annually to meet UAE Consensus targets. Raul Alfaro Pelico, Director of IRENA's Center for Knowledge, Policy, and Finance, emphasized that meeting the goal of “tripling renewable energy and doubling energy efficiency by 2030” requires enhanced global investments in renewable energy, power grids, flexible resources, and energy storage.

Tan Libin, Chief Customer Officer and Co-President of Sales and Market System at CATL, stated, “As a global industry leader, CATL is eager to foster practical, efficient collaboration with partners in the photovoltaic and energy storage sectors domestically and internationally. This will help establish an international, sustainable platform and contribute to the high-quality growth of the energy storage industry.”

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