Global Energy Storage Investments Soar to $15.4 Billion in H1 2024

Global corporate funding in the energy storage sector more than doubled to $15.4 billion in the first half of 2024, as per Mercom Capital's latest report. This marks a 117% increase from $7.1 billion during the same period in 2023, driven by a robust Q1 performance.

The funding included venture capital (VC) investments, debt financing, and public market funding. Lithium-ion battery companies attracted the highest VC investments, followed by sectors like battery recycling and sodium-based battery technologies. Debt and public market financing surged to $13 billion, a 294% rise compared to H1 2023.

India’s energy storage market also gained momentum, with Maxvolt Energy raising $1.5 million to develop fast-charging lithium-ion batteries and establish recycling plants, signaling a strong domestic push toward sustainable energy solutions.