Top 50 Energy Storage Companies in 2023

The market for energy storage solutions is expected to grow rapidly in the next few years, and the future of battery energy storage systems is bright. As such, there are lots of new battery producers appearing, and the old ones are getting up to speed. Several established battery makers are making the switch to Li-ion batteries to keep up with consumer demand.

We have compiled a list of the best energy storage companies for your consideration. This list includes the top firms in each global industry, as well as brief summaries of each. Before we get into the incredible list, let's take a quick look at the advantages of energy storage systems.

The Benefits of Energy Storage

Energy storage is becoming a more significant component of the global endeavor to shift to renewable energy sources and lessen dependency on fossil fuels. It has several benefits and can be applied in a number of situations.

• Consumers' Expenses Are Reduced

Energy storage can reduce grid operational costs while also saving money for electricity users who install energy storage in their homes and businesses.

Energy storage allows the grid to be more flexible, ensuring that users have uninterrupted electricity whenever and wherever they need it. When power goes out, it can also provide backup power.

• Integrate Diverse Resources

By introducing more flexibility into the grid, energy storage can help integrate more solar, wind, and distributed energy resources.

• Reduce Environmental Impacts

Energy storage can lessen the need for new polluting peak power plants while also improving the ability to reduce greenhouse gas (GHG) emissions.

Top 50 Energy Storage Companies in 2023

Here is a list of the top 50 companies that store energy in 2023. The following companies, listed in no particular order, offer energy storage solutions to a wide variety of end users, from individual households to multinational conglomerates.

Although not all of the listed firms directly deal with energy storage, they all play an important role in the expansion and improvement of the sector as a whole.

1. Tesla

Tesla, Inc., located in Austin, Texas, is an American global automotive and clean energy corporation formed in 2003. Tesla creates electric automobiles, battery energy storage from home to grid-scale, solar panels and solar roof tiles, and other products. Tesla's energy storage solutions include the Powerwall and Powerpack batteries, as well as the company's automobiles such as the Model S, Model X, and Model.

2. LG Chem

LG Chem is Korea's most successful chemical firm because its leaders are unafraid to take risks and adopt new approaches to problem-solving. Created on the foundation of a diversified and globally competitive business portfolio that includes petrochemicals, innovative materials, life sciences, and a battery-focused subsidiary. Making them a top science-oriented firm that adds value to their consumers' lives.

3. BYD

Founded in 1995 and based in Shenzhen, BYD Co. Ltd. is a publicly traded Chinese conglomerate manufacturing firm. This company has expanded to become a key player in the automotive, bicycle, forklift, solar panel, and rechargeable battery markets. BYD stands for “Build Your Dreams,” which is the meaning behind the company's moniker.

4. Panasonic

Panasonic, was founded on the philosophy that “business is ultimately for the betterment of our society.” Besides being the leading producer of consumer electronics in the world by the late 20th century, Panasonic also offers a broad range of other products and services, such as rechargeable batteries, automotive and avionic systems, and industrial systems.

5. CATL

The Contemporary Amperex Technology Co. Limited, also known as CATL for short, is a Chinese manufacturer and technology corporation that was founded in 2011. CATL is known for its expertise in the production of lithium-ion batteries, which are utilized in electric vehicles and energy storage systems (BMS). CATL is the world's largest lithium-ion battery manufacturer, with a manufacturing capacity target of >500 Gwh by 2025 and >800 Gwh by 2030.

6. Bay Energy

Established in 2012, Bay Energy is a leading producer of advanced residential BESS powered by CATL, based in Shenzhen, China. The company's primary energy storage product is the Power Lite series, a sophisticated LiFePo4 battery system used in a range of applications. Their goal is to provide cutting-edge, tailor-made battery storage solutions to suit the energy needs of house-building and residential clients worldwide.

7. Johnson Controls

Johnson Controls International is an American Irish-domiciled multinational conglomerate headquartered in Cork, Ireland. The company's main energy storage product is the EnCharge battery, a residential battery system that stores excess solar energy for households, and also can apply in other commercial buildings.

8. A123 Systems

A123 Systems, an American firm that specializes in the development of sophisticated lithium-ion batteries, was formed in 2001. A123 Energy Solutions battery technology is designed for hybrid electric vehicle applications, with an emphasis on power, abuse tolerance, longevity, and cost. They also provide automobile OEMs and industries worldwide.

9. NEC Energy Solutions

Founded in 2014, NEC Energy Solutions, a division of NEC Corporation headquartered in Westborough, Massachusetts, designs, manufactures, and integrates smart energy storage solutions for the electric grid and other critical power applications. They are eager to revolutionize the global energy industry and boost social infrastructure.

10. Coda Energy

CODA Energy is a market leader in scalable energy storage technologies that enable a smarter, cleaner, and more dependable grid. The company's CODA Core helps commercial and industrial facilities cut costs, control consumption, and manage risks related to energy use, all while optimizing energy operations for more scalability, reliability, and security.

11. AES Energy Storage

Established in 2007, AES Energy Storage, an American company that specialized in the development and production of advanced energy storage systems. Rather than using polluting, noisy, and potentially dangerous diesel generators, they've invented the Ampd Enertainer, a compact and linked battery energy storage system (BESS) to power the world's construction.

12. EOS Energy Storage

EOS Energy is a New Jersey-based company that develops and manufactures innovative ESS technology. Their ground-breaking Znyth aqueous zinc technology is at the heart of their revolutionary Eos Cube, EosHangar, and Eos Stack systems, which now provide utility, industrial, and commercial customers a proven, superior alternative to lithium-ion for mid-duration, intraday energy storage.

13. Fluence

Fluence Energy, based in Virginia, is another market leader in worldwide energy storage. Gridstack is their flagship product, a grid-scale, industrial-strength energy storage solution built for the most demanding market applications with industry-leading dependability, scalability, and safety. They also have over 14 years of design and deployment experience.

14. Stem

The stem, launched in 2009, is a global pioneer in clean energy optimization. Stem offers clean energy solutions and services that increase the economic, environmental, and resiliency value of energy assets and portfolios. Athena, their leading AI-driven enterprise software platform, enables organizations to install and realize value from clean energy assets at scale.

15. Enel X

Enel X is an Italian company that focuses on decarbonization techniques, distributed energy solutions, and digital technology in order to reduce emissions and save energy. They are one of the world's foremost providers of demand response and products and services for energy transformation at the residential, city, and industrial levels.

16. Green Charge Networks

Green Charge Networks, sometimes known as Green Charge, is an energy storage startup situated in Santa Clara, California. Green Charge was started in 2009 and helps businesses and institutions lower their “peak demand” charges by using a combination of predictive software and battery hardware called “power efficiency.”

17. UniEnergy Technologies

UniEnergy Technologies (UET) was a Mukilteo, Washington-based vanadium redox flow battery manufacturer that produced megawatt-scale energy storage systems for utility, commercial, and industrial customers. The company had created a megawatt-scale flow battery employing this new electrolyte in order to allow for rapid deployment, manufacturing repeatability, and lower costs.

18. Primus Power

Primus Power Solutions provides advanced energy storage solutions at competitive prices and with extended service lives. Primus was founded in 2009 and is based in Silicon Valley with an Asian branch office. Customers in the commercial/industrial, data center, microgrid, and utility sectors, both domestically and abroad, are receiving their flow batteries.

19. Younicos

Younicos was a German-American technology firm that designed and sold energy storage technologies as well as control software. The company developed systems in response to the energy management needs of power networks of all sizes, including micro-grids, by integrating battery technologies, power electronics, and control software.

20. NEC Corporation

21. Absorbent Glass Mat (AGM)

AGM is an American company that specializes in innovative lead-acid battery manufacturing. The AGM Energy Storage System is the company's major energy storage product. AGM batteries are exceptionally resistant to vibration, completely sealed, non-spillable, and require no maintenance.

22. Innolith

Innolith is a Swiss company that was founded in 2018. They provide the Innolith Energy Storage Technology, which is a large-scale energy storage system utilized in a range of applications such as renewable energy integration and grid stability. The company envisions worldwide electric mobility enabled by high-energy battery technologies.

23. Gildemeister Energy Storage

Gildemeister energy storage provides integrated electrical energy storage solutions. The company's energy storage system represents a watershed moment in regenerative energy management. The vanadium redox flow energy storage system offers continuous power supply whether used in conjunction with photovoltaics, wind turbines, biogas generators, or in parallel operation.

24. Nidec ASI

Italian conglomerate Nidec Industrial Solutions was established in 2012 following Nidec Corporation's purchase of Milan-based industrial machinery manufacturer Ansaldo Sistemi Industriali. The firm's main focus is industrial control and automation systems, particularly those related to power electronics for Power Supply and Power Quality.

25. Hitachi Chemical

Japanese firm Hitachi Chemical is an industry pioneer in developing and manufacturing cutting-edge battery technology. They are working on a global scale to improve their thermal power generation control system, which includes features like automatic power control (APC), which regulates the flow of fuel, water, and air into the boiler, and shutdown quality control (SQC), which manages when the plant turns on and off.

26. East Penn Manufacturing

Concentration at East Penn Manufacturing is being given to the development of the East Penn Energy Storage System. Making long-lasting products that are devoid of flaws and can be used without worry for years is crucial to a sustainable business model. As a result of a deeply quality-centered culture and rigorous continuous improvement programs, they consistently produce products on which their consumers have come to rely.

27. NEC Energy Devices

The Solutions for Society division at NEC Energy Devices is prioritizing business development. NEC is turning its focus in the smart energy industry toward providing services for the building, running, and maintaining of electric storage systems in order to help with objectives like power grid reliability and business energy efficiency.

29. Enphase Energy

Enphase Energy, Inc. is a California-based American energy technology firm that develops and manufactures solar micro-inverters, battery energy storage, and EV charging stations primarily for residential clients. Enphase is ready to revolutionize the solar business with their microinverter technology, which converts sunshine into a safe, dependable, resilient, and scalable source of energy.

30. Sumitomo Mitsui Construction

Chuo, Tokyo is home to the headquarters of the Sumitomo Mitsui Construction Company, a Japanese general construction firm. Technology advancements for a decarbonized society are actively supported by SMC. Offering a wide selection of systems, from ground-mounted mega-solar arrays to rooftop solar panels.

31. Redflow

Redflow is an Australian firm that specializes in the design and manufacture of innovative energy storage systems. The modular energy storage system from Redflow is intended for high cycle-rate, long-time-base stationary energy storage applications in residential, commercial, and industrial settings.

32. Toshiba

Toshiba Corporation, which most people just call “Toshiba,” is a Japanese multinational conglomerate company with its headquarters in Minato, Tokyo, Japan. Power, industrial, and social infrastructure systems are among its diverse offerings. Toshiba makes a wide range of single-phase and three-phase UPS systems and accessories that are known for their high quality and dependability.

33. Eaton

Eaton Corporation is an American-Irish multinational corporation specializing in power management. Their first-rate electrical, aeronautical, hydraulic, and automotive equipment and services solve their clients' most critical power management problems. They are devoted to producing high-quality goods and delivering cutting-edge solutions that boost their clients' businesses.

34. Siemens

Siemens AG is the largest industrial producer in Europe and is based in Munich, Germany. The company's core business operations can be divided into several sectors, including but not limited to: industry, energy, healthcare, infrastructure, and so on. Siemens is involved in energy automation and smart grid, low-voltage power distribution, and electrical installation technology.

35. Xtreme Power

Xtreme Power, a global provider of power quality solutions headquartered in Denver, CO, is committed to providing the most dependable power protection for mission-critical applications. For a global network of OEMs and distributors, Xtreme Power manufactures UPS, power distribution units, and portable cooling solutions.

36. ZBB Energy

Formerly known as ZBB Energy Corp., EnSync Inc. is the new name for the company that specializes in creating energy management solutions for the utility, commercial, industrial, and multi-tenant building markets. The new name reflects the company's aim to facilitate the integration of utility, distributed generation, and storage assets into the energy networks of the future.

37. LG Electronics

LG Electronics Inc. is a South Korean multinational electronics corporation based in Yeouido-dong, Seoul. LG Electronics is a subsidiary of LG Corporation, South Korea's fourth largest chaebol, and is frequently seen as the group's apex, along with the group's chemical and battery branch LG Chem.

38. SMA Solar Technology

Founded in 1981 and located in Niestetal, Germany, SMA Solar Technology AG (SMA stands for “System, Mess, and Anlagentechnik”) is one of the leading manufacturers and distributors of solar energy systems worldwide. SMA is a leading global provider of solar inverters for grid-connected, off-grid, and backup photovoltaic systems.

39. Koninklijke Philips

Philips, short for Koninklijke Philips N.V. (lit. “Royal Philips”), is a Dutch global conglomerate company. First producing light bulbs, the company was started by Gerard Philips and his father Frederik in 1891. Around 80,000 employees are currently employed by the company in 100 different countries.

40. ABB

ABB Ltd. is a global Swedish-Swiss enterprise headquartered in Zürich, Switzerland. The corporation is a key participant in electrification and automation, paving the way for a more sustainable and resource-efficient future. Engineering know-how and software are combined in the company's solutions to maximize how objects are created, moved, powered, and operated.

41. GE Energy

General Electric Company (GE) is a multinational business headquartered in New York City that was formed in 1892. The company worked in many different fields, including healthcare, power, renewable energy, etc. The company's team is varied and devoted, working with the utmost integrity and commitment to fulfill GE's mission and deliver for its customers.

42. Ameresco

Ameresco, Inc. was established with the goal of supplying businesses with options for using renewable energy and cutting their energy costs. Services provided to customers in North America and Europe include those that improve energy efficiency, modernize infrastructure, ensure the long-term viability of assets and harness renewable energy sources.

43. SolarEdge

SolarEdge is an Israeli company that creates and distributes photovoltaic inverters, energy generation monitoring software, battery energy storage systems, and other associated goods and services to residential, commercial, and industrial customers. SolarEdge offers smart energy solutions that may drive future progress by leveraging world-class engineering capabilities and a constant emphasis on innovation.

44. Albemarle

Albemarle is a significant global producer of Lithium, Bromine, and Catalyst solutions, with a history dating back to 1887. They think outside the box to help companies in many of the world's biggest and most important industries, like energy, electronics, and transportation, reach their full potential. They work hard to find a way to manage the world's best resources in a way that is sustainable.

46. EnerSys

EnerSys is a provider of stored energy systems and technology for industrial applications. Produces reserve and motive power batteries, battery chargers, power equipment, and so on. Mission important stored energy solutions that respond to the increasing demand for energy efficiency, reliability, and sustainability for the global community.

47. Schneider Electric

French multinational corporation Schneider Electric SE focuses on digital automation and power infrastructure. It combines energy technologies, real-time automation, software, and services to help homes, buildings, data centers, infrastructure, and businesses.

48. Exide Technologies

Exide Technologies is a multinational American manufacturer of lead-acid batteries. It makes both automobile and industrial batteries. Exide operates sustainably as a fundamental value and is dedicated to safeguarding the health, safety, and well-being of its employees and the people in the areas where they operate and reside.

49. GS Yuasa

GS Yuasa Corporation is a Japanese corporation situated in Kyoto that specializes in the development and production of lead acid and lithium-ion batteries for use in automobiles, motorbikes, and other industries such as aerospace and defense. GS Yuasa's power storage technology has helped advance civilization in a world where energy consumption patterns evolve with the times.

50. ESS

ESS Inc., based in Wilsonville, Oregon, was created by a team of experts in fuel cells, electrochemistry, advanced material science, and renewable energy. The company's technology provides considerable environmental and financial benefits. Their non-corrosive, non-toxic chemistry, in particular, facilitates the use of off-the-shelf components.

These companies are at the forefront of energy storage innovation and progress. They are all striving toward the same goal: making energy management more productive and environmentally friendly in the future. They believe that through creating creative technologies, increasing battery capacity, and inventing novel approaches to energy management, they can contribute to this aim.

It is worth noting that this list is by no means exhaustive, and there are many other companies that are making important contributions to the energy storage field. However, these 50 companies are certainly ones to watch in the coming years, as they continue to push the boundaries of what is possible in the energy storage industry.