AI-Powered Energy Storage Technologies Will Be Key in Growing the Battery Market and Accelerating Renewable Energy Adoption

 

The energy storage market is hitting warp speed, fueled by technological breakthroughs and soaring demand for electric vehicles and renewable energy sources. In 2022, the global energy storage market size reached an astounding $14.9 billion and is projected to grow at a 15.8% CAGR from 2023 to 2033. What recent or coming developments in the world of energy storage technologies are experts saying will have the most impact in supporting this projected growth?

 

For starters, as energy storage technology charges ahead, industries and consumers alike can expect significant changes. One pivotal development is the surging demand for batteries to power electric vehicles, transforming the automotive landscape. In addition, energy storage systems, encompassing batteries, pumped-storage hydroelectricity, thermal energy storage, and flywheel energy storage, serve as crucial backup power sources in the commercial, industrial, and residential sectors. These systems not only facilitate the adoption of renewable energy but also drive the exponential growth of the electric vehicle market.

 

As energy storage solutions provide more fail-safes for the energy industry and become the foundation of power for interconnected and increasingly-smart EVs, they’re also becoming a test case for edge analytics, playing a role in providing enhanced data capture and insights into energy usage. David Miller, Vice President of Business Development at clean energy adoption and solutions company Gridmatic, believes that the integration of artificial intelligence in energy storage technologies is going to be one of the most exciting and useful developments for the market to continue to grow in size and importance.

 

David’s Thoughts

 

“The development in energy storage technology that we are most excited about is forecasting and optimization based on artificial intelligence or AI. Previously, many grid-scale storage projects were designed with a single application in mind, like providing frequency support to the grid or shaving the peak during certain hours of the day. Those applications did not require advanced controls, but storage projects today in the leading U.S. markets for storage, like CAISO and Ercot, bid into both energy and ancillary service markets in both the day ahead and real time.

 

To do this requires constantly managing trade-offs, which is complicated and beyond the capabilities of a human to operate these batteries. Effectively, algorithmic forecasting and optimization are required. Fortunately, advances in AI to energy price forecasting are making this more effective than ever. We expect these technologies to take off for energy storage, deployment, and to spread to other dispatchable resources like flexible loads and beyond.”

Follow us on social media for the latest updates in B2B!

Image

Latest

whole health index
Whole Health Index
May 22, 2025

Dr. Sam Ambewadikar returns to break down Anthem’s Whole Health Index (WHI)—a powerful tool that distills medical, social, environmental, and behavioral data into a single score (0–100) to identify members most at risk. By surfacing factors like transportation deserts, housing instability, or food insecurity, WHI enables Anthem care managers and advocates to proactively match members…

Read More
pcp
PCP Attribution Analysis
May 22, 2025

Dr. Sam Ambewadikar, RVP and Medical Director at Anthem National Accounts, joins Brent to unpack the power of primary care attribution analysis—a tool he helped pioneer to spotlight the clinical and financial impact of members not having an established PCP. Drawing from his background as a practicing pediatrician and claims analytics leader, Dr. Sam shares…

Read More
sydney health
Sydney Health Demo
May 22, 2025

In this episode, Christina Firouztash, Executive Advisor of Digital Solutions at Anthem, gives a dynamic walkthrough of the Sydney Health app—Anthem’s flagship digital member experience. Christina showcases how Sydney delivers personalized, simple, and equitable navigation across benefits, including virtual care, pharmacy, financial transparency, and social services access. From contextual chatbots and ID card access to…

Read More
pharmacy
Pharmacy Part 1
May 22, 2025

In this episode, Brent chats with Katie Brennan, National Sales Director at CarelonRx, about making pharmacy benefits more accessible, consistent, and member-friendly. Katie spotlights Carelon new advanced home delivery model, which brings the pharmacy counter—and the pharmacist—into the member’s home. With fewer retail pharmacies offering extended hours and many patients lacking reliable transportation, CarelonRx is…

Read More