As the global energy sector pivots toward decarbonization, battery energy storage systems (BESS) are becoming critical enablers of renewable integration and grid stability. While developed economies like the U.S., China, and Germany currently dominate storage deployment, a new wave of emerging markets is rapidly positioning itself as the next growth frontier. From policy reforms to renewable energy commitments, these markets offer fertile ground for battery storage investment through 2030.
In this article, we highlight the top 10 emerging markets that are set to attract significant investment in battery storage, based on their policy landscape, energy demand growth, renewable integration needs, and investor interest.
1. India
India is spearheading energy transition in Asia with a bold 500 GW renewable energy target by 2030. With ambitious tenders under the National Energy Storage Mission, Production Linked Incentive (PLI) schemes for battery manufacturing, and solar + storage hybrid auctions, India offers one of the largest market opportunities. The recent ISTS-connected storage projects and BESS tenders from SECI are examples of growing commercial-scale activity.
2. Vietnam
Following a solar boom that strained its grid, Vietnam is now pivoting toward battery storage to enhance grid resilience and enable more solar and wind. Governmental support and private sector interest are rising, with pilot BESS projects launched by EVN and international developers. Vietnam’s upcoming Power Development Plan (PDP8) includes significant provisions for energy storage.
3. South Africa
After suffering for some time now with rolling blackouts, South Africa has a serious need for energy storage to flatten its load and to facilitate renewable generation. The Risk Mitigation IPP Procurement Program (RMIPPPP) requires some battery storage as a component of their request for proposals. International capital supports storage, with partners from the World Bank and private developers driving many of the storage projects.
4. Chile
Chile is the leader in Latin America in energy transition and holds one of the highest solar shares in its generation mix. This variability triggers a significant demand for storage—the government has implemented policies promoting standalone BESS. There are several international IPPs making investments as well, and grid-scale projects are being implemented in Chile’s Atacama.
5. UAE
The UAE has aggressive net-zero targets, a massive solar park in Mohammed bin Rashid Al Maktoum Solar Park, and is putting in place BESS for near-24/7 clean power. There has been a massive push from Masdar and DEWA to secure the installation of BESS. The UAE is becoming a key regional hub for utility-scale energy storage in the Middle East and North Africa (MENA) region.
6. Brazil
Brazil’s energy storage market is still in its early stages, but fortune is smiling upon it with all of the regulatory developments being done by ANEEL. There is a very high dependency on hydro use across the entire country, so BESS will be a very valuable asset for grid connectedness and flexibility if there is a drought. Solar + storage pilots are growing in Brazil’s northeast region with support from both local and international investments.
7. Indonesia
An archipelagic nation with decentralized energy needs, Indonesia is ideal for distributed storage systems. Government initiatives under the National Energy Policy and growing rooftop solar adoption make battery storage increasingly viable. The Asian Development Bank and foreign companies are actively piloting hybrid systems across islands.
8. Philippines
Like Indonesia, the Philippines faces grid fragmentation and high diesel dependence in remote areas. Battery storage is seen as a key enabler of energy access and renewable integration. The government has released guidelines for energy storage deployment, and companies like Aboitiz Power and AC Energy are investing heavily.
9. Kenya
Kenya leads East Africa in renewable energy generation, particularly geothermal and wind. Battery storage is being introduced to smooth variable generation and support mini-grids. Development partners like the African Development Bank and USAID are supporting storage pilots in off-grid and rural areas.
10. Saudi Arabia
Saudi Arabia’s Vision 2030 prioritizes renewable energy, and battery storage is critical to managing peak demand and variable generation. With giga-projects like NEOM incorporating large-scale storage and ACWA Power leading clean energy deployment, the kingdom is becoming a serious player in the BESS space.
From Asia to Latin America, emerging markets are evolving into hotspots for battery storage investment. Backed by policy incentives, renewable expansion, and rising demand from industrial and digital sectors, these countries present unique opportunities for stakeholders across the battery value chain. As storage technologies become more affordable and bankable, early movers in these emerging regions stand to gain significant long-term advantages.
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