Powering Up Japan: NTT''s Big Bet on Battery Storage Sparks a
Japan is known for using sodium-sulfur batteries. Companies like NGK Insulators lead the way in this area. NaS batteries have many benefits compared to lithium-ion ones.
That is creating surging interest in battery energy storage systems (BESS) to smooth mismatches in supply and demand. Since December 2023, companies have announced investments of at least $2.6 billion in Japanese battery storage projects, according to calculations by Reuters.
As the demand for energy storage evolves, Japan is faced with the challenge of diversifying its battery technology to enhance energy security, reduce costs, and address supply chain vulnerabilities.
This report aims to provide an overview of the early-stage grid-scale battery storage business in Japan, identify key challenges, and outline the direction of future development.
Rystad forecasts Japan's battery storage capacity could reach about 4 GW based on projects under construction, planned and awarded, which would require $6 billion in investment.
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