‘Brazil could have $3.8bn battery energy storage market by 2030’

Demand for battery energy storage system (BESS) components grew 89% in Brazil from 2023 to 2024 and most of the resulting systems are likely to be installed in 2025.

That demand, part of a BESS market which could be worth more than BRL 22.5 billion ($3.79 billion) by 2030, was recorded by Brazilian consultancy Greener in its “Strategic Study on Energy Storage” report.

Greener found Brazil reached 685 MWh of energy storage capacity last year, with 70% of BESS not grid connected. The consultant said the nation added 269 MWh in 2024 alone, a rise of 29% from 2023.

An unreliable grid is driving Brazilian energy storage demand.

The world is set to have more than 760 GWh of energy storage capacity by 2030, led by Chinese and United States markets dominated by utility-scale systems. China also leads the world for its volume of, customer-side “behind the meter” (BTM) BESS, with Germany and Italy also leading BTM markets.

BESS growth in Latin America and the Pacific is held back by regulatory barriers and high capital costs, Greener said.

“The storage market is a key component of the energy transition in Brazil, enabling the integration of renewable [energy generation] sources into the electricity grid and providing greater system stability,” said Greener CEO Marcio Takata. “As an opportunity to mitigate challenges such as curtailment and flow reversal, this is a market that continues to advance, driven by increased demand and more competitive prices. We will also be holding the Storage [grid] Capacity Reserve Auction, scheduled for this year, which should open the doors to new investments in large-scale projects in the country.”

The free version of the “Strategic Study on Energy Storage” is available for download here.

From pv magazine Brasil.