STATEMENT: Countries Commit to 6x Global Energy Storage and Modernize Grid to Advance Clean Energy Economy

BAKU, AZERBAIJAN (November 15, 2024) - At COP29, multiple countries have committed to increasing the amount of global energy storage sixfold compared to 2022 levels, or 1,500 Gigawatts of capacity by 2030. In addition, there was a commitment to add or refurbish 80 million kilometers of electricity grids by 2040. The commitment comes a year after 133 countries committed at COP28 to tripling renewable energy capacity and doubling rates of energy efficiency by 2030.

Following is a statement from Jennifer Layke, Global Director, Energy, World Resources Institute:

"Energy storage and the power grid are essential to the clean energy transition, but for too long have not been center-stage. This declaration signals that policymakers are now adding these essential services to their energy transition priority list. Now countries should turn this pledge into results by including specific goals for storage and the grid in their NDCs, national energy policies and plans, and investments.

"Paired with last year's commitments to triple renewable energy and double energy efficiency, this pledge creates a trifecta of global goals we need to build the clean, secure, resilient power system that benefits people.

"One vital way that countries can meet the ambitious storage goal is by repurposing electric vehicle batteries for 'second life' applications. With the mass adoption of electric vehicles in the coming years, there will come with it a surge in the production of batteries.

"At their end of life, these EV batteries could be destined for recycling, but intrepid government agencies and corporations could establish marketplaces and build political will for battery collection and deployment in less demanding applications, such as storage for renewable energy. This can help bridge the gap in getting to 1,500 gigawatts of storage and prevent batteries from generating unnecessary waste."

"Investment in grid infrastructure will also be essential as countries work toward a clean energy economy where no one is left behind. Energy efficiency often gets much less attention than other clean energy technologies but investing in a modern grid that minimizes transmission and distribution losses is essential if we're going to optimize how electricity gets from the generator to people. As populations sprawl, governments also need to ensure that the electric grid can reach remote and historically underserved communities so they can benefit as much as those in urban centers."

• Alison Cinnamond

  Global Director for Strategic Communications

• Darla Bijou van Hoorn

  Media Relations Manager