Worldwide during the 2020s, about $225 billion could be spent to build almost 500 gigawatts of storage capacity, said Eren Ergin

, General Manager of Honeywell Process Solutions, the unit that helped build the storage system. Addressing the event by video link, he said: “You are the true trailblazers.” Bloomberg forecasts that by 2040, world storage capacity will hit 1 terawatt (1,000 gigawatts).