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G7 aims to boost electricity storage, phase out coal

Financial Times — April 26, 2024, 03:00 PM UTC

Summary: G7 countries plan to increase electricity storage capacity sixfold from 230GW in 2022 to 1,500GW in 2030, focusing on batteries, hydrogen, and other solutions. Discussions also cover phasing out coal power and promoting renewables. The International Energy Agency expects batteries to dominate new storage. Battery costs have dropped over 90% in 15 years. The G7 aims to end fossil fuel subsidies abroad. US and EU differ on export credit agency loans for fossil fuel projects.

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Timeline:

  1. [4.8]
    G7 to end unabated coal power by 2035 (The Guardian)
    19d
    Source
  2. [5.8]
    G7 to phase out coal by 2035, focus on renewables (Financial Times)
    19d

    ScoresSource
  3. [5.4]
    G7 to close coal plants by 2035 for climate (CNN)
    20d
    Source
  4. [3.3]
    G7 countries to phase out coal by early 2030s (Electrek)
    20d
    Source
  5. [6.1]
    IEA reports 130% increase in battery capacity in 2023 (The Guardian)
    24d

    ScoresSource