Top 10: Energy Storage Companies
The battery storage industry is undergoing a transformative evolution, driven by the increasing demand for sustainable energy solutions and advancements in technology.
As the world shifts towards renewable energy sources like solar and wind, battery energy storage systems (BESS) are becoming essential for balancing supply and demand.
The global market for battery storage is projected to grow significantly, with estimates reaching up to US$51.7bn by 2031. This growth is fuelled by government incentives, environmental regulations and the urgent need for grid resilience.
As these companies expand their product offerings and capabilities, they are not only reshaping the energy landscape but also contributing to a more sustainable future.
We’ve ranked 10 of the top energy storage companies.
10. Enphase Energy
CEO: Badri Kothandaraman
HQ: California, USA
Enphase Energy specialises in innovative solar and battery solutions for residential and small-scale commercial markets.
Founded in 2006, the company revolutionised the solar industry with its groundbreaking microinverter technology, which converts solar panel DC power to grid-compatible AC power.
The company’s Enphase Energy System enables customers to make, use, save and sell their own energy through integrated solar, battery and EV charging solutions.
“At Enphase, we are proud to deliver cutting-edge solar energy solutions that prioritise reliability, innovation and safety,” says Sunil Thamaran, Senior Vice President and Managing Director of India at Enphase Energy.
9. Fluence
CEO: Julian Nebreda
HQ: Virginia, USA
Formed through a partnership between Siemens and AES, Fluence provides innovative energy storage products and digital applications for renewable energy markets, with a comprehensive portfolio including Gridstack, Sunstack and Edgestack technologies.
With an immense 7.5GW contracted backlog and operations across multiple countries, Fluence is driving the transformation of energy infrastructure.
The company is also expanding its domestic manufacturing capabilities in the US, positioning itself at the forefront of sustainable energy technology and supporting the transition to cleaner power systems.
8. Samsung SDI
CEO: Yoonho Choi
HQ: Yongin-si, South Korea
Samsung SDI is a prominent player in the energy storage industry, leveraging its innovative battery technologies.
The company is developing advanced solid-state batteries with an impressive energy density of 500Wh/kg, nearly double that of conventional EV batteries.
The comprehensive product range includes solutions for EVs, energy storage systems (ESS) and various electronic devices.
“SAMSUNG SDI is leading the global mobility market through its ‘super gap’ technological competitiveness and outstanding product quality,” says Choi Yoon-ho, President of SAMSUNG SDI.
“We will continue to lead the way in the future mobility market through targeted mass production of next-generation products such as all-solid-state batteries and 46-phi cylindrical batteries.”
7. Siemens Energy
CEO: Christian Bruch
HQ: Munich, Germany
Siemens Energy’s portfolio includes Compressed Air Energy Storage (CAES), a proven grid-scale technology that enhances renewable energy utilisation.
The company's Future of Storage initiative aims to create an ecosystem of technology partners, covering various storage technologies from batteries to thermal and thermo-mechanical systems.
Siemens Energy's BlueVault storage solutions, based on advanced lithium-ion battery technology, cater to marine and offshore markets, promoting on-demand renewable power and increasing profitability.
Additionally, its Battery Energy Storage Systems (BESS) provide flexible, scalable designs for efficient energy storage, supporting grid stability and enabling new revenue streams for customers.
6. CATL
CEO: Zeng Yuqun
HQ: Ningde, China
CATL (Contemporary Amperex Technology Co., Limited) is a global leader in energy storage solutions, pioneering innovative technologies that push the boundaries of battery performance.
The company’s TENER system is the world's first mass-producible energy storage solution with zero degradation in the first five years.
CATL's advanced battery cells achieve an impressive energy density of 430Wh/L, setting new benchmarks for LFP batteries in energy storage applications.
The company's 6.25MWh capacity in a 20-foot container significantly reduces station footprints while increasing energy density.
5. Panasonic
CEO: Yuki Kusumi
HQ: Osaka, Japan
Panasonic is an energy storage company with comprehensive solutions for residential and electric vehicle markets.
The EVERVOLT® Home Battery System offers modular residential storage with up to 72kWh of usable energy, supporting both DC and AC coupling for flexible solar installations.
The system includes a hybrid inverter, lithium-ion battery and SmartBox technology, enabling homeowners to maximise solar energy usage and provide backup power during outages.
In the electric vehicle sector, Panasonic is developing advanced battery technologies like the 4680 battery, which offers approximately five times the capacity of previous models and is set to extend EV driving ranges.
4. BYD
CEO: Chuan-Fu Wang
HQ: Shenzhen, China
Despite being known primarily as an automotive company, BYD is a global leader in energy storage solutions, leveraging advanced lithium iron phosphate (LFP) battery technology.
The company’s Energy Storage System (ESS) offers modular, flexible designs that can be customized for diverse applications, ranging from residential to utility-scale projects.
BYD boasts an impressive 24 years of battery manufacturing experience and holds 14,000 authorised patents.
The company's innovative Blade Battery technology sets new industry standards for safety and performance with remarkable features like extreme durability and high energy density.
BYD’s energy ecosystem encompasses solar power stations, energy storage solutions and electric transportation and with 30 manufacturing sites worldwide, BYD continues to drive technological innovation in the energy storage sector.
3. LG Energy Solution
CEO: Hak-Cheol Shin
HQ: Seoul, South Korea
South Korean energy storage company LG Energy Solution offers innovative battery technologies for residential, grid-scale and electric vehicle applications.
The company's Energy Storage System (ESS) provides advanced solutions with high energy density and flexible configurations, supporting peak shifting, renewable integration and grid stabilisation.
The company's residential battery systems, such as the RESU Flex, enable flexible energy management with modular designs allowing expandable capacity from 8.6kWh to 17.2kWh.
LG Energy Solution's strategic investments in research and development, including the establishment of its Future Technology Center, demonstrate a commitment to advancing next-generation battery technologies.
2. NextEra Energy
CEO: John W. Ketchum
HQ: Florida, USA
The world's largest generator of renewables from wind and solar and a leader in battery storage, NextEra Energy has an ambitious portfolio targeting 81GW of renewables and energy storage by 2027.
The Energy Resources division manages an impressive 3,000MW of operational battery storage capacity, ensuring grid stability and efficient energy management across North America.
The company is developing significant battery storage projects, including 1,322MW of large-scale battery storage with most projects featuring four-hour duration battery energy storage systems.
NextEra’s innovative approach includes the world's largest battery system paired with a solar PV plant, the 409MW Manatee Energy Storage Center in Florida.
“With one milestone after another, FPL is following through on its steadfast commitment to make Florida a leader in sustainability and resiliency as we consistently deliver America’s best energy value – electricity that’s not just clean and reliable, but also affordable,” says FPL President and CEO Eric Silagy.
1. Tesla
CEO: Elon Musk
HQ: Texas, USA
Tesla's energy storage division is becoming increasingly profitable, with the company expecting consistent growth.
Tesla’s Megapack technology is a large-scale lithium-ion battery system designed for utility and commercial applications that can store 3.9MWh of electricity, enabling grid stabilisation and renewable energy integration.
In Q2 2024, Tesla deployed a record 9.4GWh of energy storage, more than doubling its previous quarter's performance.
The company's Lathrop, California Megafactory has a 40GWh annual production capacity, with plans to expand to Shanghai in 2025.
Tesla’s innovative battery technologies, including the 4680 cell and lithium iron phosphate options, position the company at the forefront of energy storage solutions.
“You work at Tesla because you hope to have at least a small impact on our collective future — aspirationally, to leave the world better for our children and grandchildren and their children and grandchildren — by accelerating the transition to sustainable energy,” said Rebecca Tinucci, ex-Senior Director of Charging Infrastructure at Tesla.
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