COP29 Update: 58 Nations Commit to Historic Clean Energy Storage and Grid Expansion Goals

In a groundbreaking move at COP29, 58 nations, including Brazil, Japan, Korea, Germany, the UK, and the US, signed a pledge to dramatically scale up global energy storage capacity and grid expansion by 2030. The pledge aims to increase energy storage sixfold from 2022 levels, reaching 1,500 GW, and to enhance grid capacity by adding or upgrading 25 million kilometers of transmission lines globally.

First COP to Address Clean Flexibility

This marks the first time a COP climate conference has included clean flexibility—integrating renewable energy with storage and grid solutions—on its agenda.

Signatories and Gaps

The pledge has garnered support from 25 of 38 OECD nations, including major economies such as Germany, the US, and Canada. Several Latin American (e.g., Brazil, Peru), African (e.g., Kenya, Morocco), and Asian (e.g., Japan, Korea, Malaysia) countries also signed.

However, significant absences include major emitters such as China, India, Indonesia, Russia, and much of the Middle East. Some nations that endorsed the 2023 tripling renewable capacity pledge, such as Chile, Ireland, and Portugal, have not yet joined the storage and grid initiative.

Storage Goals: Achievable but Underplanned

Experts at Ember, a global energy think tank, view the 1,500 GW storage target as “easily achievable.” By 2025, annual battery manufacturing capacity will be sufficient to meet the target eight times over by 2030. Recent cost reductions in lithium iron phosphate batteries further enhance feasibility.

However, national storage plans lag behind the global goal. Ember’s analysis reveals that of the 96 countries reviewed, only 30 have national storage targets, amounting to just 284 GW—far below the 1,500 GW goal. Notably, 14 of the 58 pledge signatories, including Portugal and Chile, already have storage targets but have yet to endorse the pledge.

Grids Require Urgent Action

The grid expansion goal poses a greater challenge. According to the International Energy Agency, 3,000 GW of renewable projects are awaiting grid connections globally, with 1,500 GW in advanced stages. Achieving the grid goal would require a doubling of current build rates, hindered by supply chain constraints and lengthy planning processes.

“Swift policy actions are essential to expedite grid deployment,” urged experts.

Clean Flexibility Defined

Grids and storage represent key components of “clean flexibility,” essential for efficiently integrating renewable energy and electrifying industries, transport, and heating. Other tools include flexible energy supply adjustments and dynamic pricing mechanisms to optimize renewable usage.

Expert Perspectives

Dave Jones, Global Insights Programme Director at Ember, emphasized the transformative potential of clean flexibility:

“The sun and the wind will drive the global electricity transition. Grids deliver electricity where needed, and storage ensures it’s available when needed. Today’s pledges are pivotal for enabling a renewable-dominated energy system.”

Aditya Lolla, Asia Programme Director at Ember, highlighted the role of battery storage for Asia:

“Battery storage is a game-changer. Countries like Korea, Japan, and Malaysia can strengthen grid resilience while scaling renewables. Even energy giants like China and India must adopt reliable solutions to manage solar and wind power shifts.”

As the COP29 pledge lays the groundwork, global attention now turns to the investments and policy frameworks required to achieve these ambitious targets.