Energy Storage Program
Overview
Energy transitions are underway in many countries, with a significant global increase in the use of wind and solar power playing a key role. To integrate variable renewable energy resources into grids, energy storage is key. Energy storage allows for the increased use of wind and solar power, which can not only increase access to power in developing countries, but also increase the resilience of energy systems, improve grid reliability, stability, and power quality.
At the Climate Action Summit in 2018, the World Bank Group announced its commitment of $1 billion to accelerate investments in battery storage to ramp up renewable energy in low and middle-income countries.
