Innovative Resources for Sustainability Solutions
Global Market for Modular CAES Storage
The market for long-duration, resilient energy storage is expanding rapidly worldwide. Research forecasts project the global long-duration energy storage (LDES) market to grow from about $4.8 billion in 2024 to ~$10.4 billion by 2030 (CAGR ≈14%). This growth is driven by surging renewable deployment and grid reliability needs. In the US alone, energy storage is projected to soar from $107 billion in 2024 to $1.49 trillion by 2034 (≈29% CAGR), reflecting massive investment in batteries, pumped hydro, and mechanical storage. Europe’s LDES market is also growing (forecast ~$1.13→$3.24 billion by 2023–2032, ~12.4% CAGR)credenceresearch.com. Australia’s storage market is expected to double from $7.8 billion in 2023 to ~$15.6 billion by 2032, underpinned by renewables growth. Emerging economies (e.g. India, Latin America) likewise project strong demand as they electrify and decarbonise.
Tree AirBattery: Modular CAES for Sustainable Mining
Mining operations face steep energy costs and reliability risks. Energy can account for roughly 30% of a mine’s operating expenses, and off-grid power can cost up to $300/MWh. Traditionally this demand is met with diesel generators, which are expensive to run and maintain, expose mines to fuel-price volatility and carbon taxes, and generate significant emissions. Batteries (lithium-ion) offer emissions savings but carry safety and lifecycle downsides: they degrade over years and can ignite, releasing toxic smoke in confined spaces.