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IEA reports 130% increase in battery capacity in 2023

The Guardian — April 25, 2024, 01:00 PM UTC

Summary: The International Energy Agency (IEA) reported a 130% increase in battery capacity, with 42GW added globally in 2023. To meet renewable energy goals, 1,500GW of battery storage is needed by 2030. Battery costs have dropped 90% in 15 years, driving growth in electric vehicles. $150bn was invested in batteries last year, with a significant impact on electric car sales and renewable energy adoption.

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