Global energy markets balance renewable storage growth and fossil fuel demand

The global energy landscape is experiencing simultaneous growth in both renewable technologies and traditional hydrocarbons. Commercial and industrial (C&I) battery energy storage systems (BESS) are projected to reach a cumulative installed capacity of 122.97 GW by 2035, driven by rising electricity demand and the need to manage solar power fluctuations.

Companies like Hoymiles are deploying liquid-cooled battery storage systems to assist businesses with peak shaving and zero-export requirements. Recent implementations include an Aloha supermarket in Vietnam and a shopping and office center in Slovenia, which utilized compact designs to reduce their physical footprint by up to 35%.

Concurrently, global demand for oil and natural gas remains high, with oil demand exceeding 103 million barrels per day in 2025. For energy producers in regions like Canada, this creates a complex environment where they must balance the expansion of fossil fuel exports to energy-dependent economies, such as China and India, with evolving policy frameworks and the rapid momentum of renewable energy investments.