The U.S. vitality storage market continued its robust progress in third quarter of this yr, with the grid-scale section setting new quarterly data for deployments. That’s based on the American Clear Energy Affiliation’s (ACP) and Wooden Mackenzie’s newest U.S. Power Storage Monitor report launched Dec. 12.
The report stated Q3 set the best report for third-quarter installations, with a complete of three,806 MW and 9,931 MWh deployed, an 80% and 58% improve, respectively, over year-ago numbers.
Texas and California Markets Present No Indicators of Slowing
Grid-scale vitality storage deployments in each Texas and California had been strong in Q3, as the 2 markets proceed to embrace storage as a grid resolution. Texas tripled installations in comparison with the earlier quarter with almost 1.7 GW added, and California produced the best GWh of installations with almost 6 GWh added, due to its concentrate on longer period crops.
Arizona, Colorado, Florida, and Vermont additionally noticed installations in Q3, exhibiting an urge for food for grid-scale storage deployment throughout the nation.
“We’re seeing the vitality storage trade fill an actual want throughout the nation to supply reliability in an inexpensive and environment friendly method for communities,” stated John Hensley, SVP, Markets and Coverage Evaluation for ACP. “With 64 GW of recent vitality storage anticipated within the subsequent 4 years, the market sign continues to be clear that vitality storage is a crucial part of the grid transferring ahead.”
“The speedy vitality storage deployment we’re seeing in the US not solely enhances reliability and affordability but additionally drives financial enlargement. This extra storage capability helps meet growing vitality demand and is supporting rising industries like manufacturing and information facilities,” stated Noah Roberts, ACP’s VP of Power Storage. “Power storage is essential for vitality safety and to assist outpace rising demand.”
Residential Market Breaks All-Time Quarterly Document
The residential market set an all-time excessive with a record-breaking 346 MW of residential storage put in in Q3 2024, a 63% improve over the earlier quarter. California, Arizona, and North Carolina led progress, putting in 56%, 73% and 100% respectively extra residential storage in Q3 than in Q2. These numbers had been reached regardless of residential battery provide shortages.
Neighborhood-scale, business and industrial remained regular, with 29 MW put in, a slight 4% lower from year-ago numbers.
Grid-Scale and Residential Sectors Will Lead Future Progress
The grid-scale and residential segments will proceed to guide the market, with grid-scale installations projected to greater than double by 2028 to achieve a cumulative quantity of 63.7 GW, and residential putting in 10 GW of storage in the identical time interval.
“We’ve got seen constant progress out there this yr, particularly within the grid-scale section,” stated Nina Rangel, senior analysis analyst at Wooden Mackenzie. “Total, storage installations will develop 30% in 2024, signaling the trade’s strongest yr but. Nevertheless, it is going to be tough to maintain this tempo. Between 2025 and 2028 we’re projecting an annual common progress price of 10%, as early-stage improvement constraints proceed.”
Allison Weis, international head of storage of Wooden Mackenzie, famous that whereas constant progress is predicted, there are some uncertainties with the brand new presidential administration, as modifications to sure tax credit and protectionist measures within the type of elevated tariffs may come into play.
“Whereas there is perhaps potential alternatives in a brand new pricing setting for home producers by way of competitors, any main shifts in tax incentives or elevated tariffs may outweigh advantages and have an effect on new undertaking improvement,” stated Weis.
—POWER edited this content material, which was contributed by the media relations groups for ACP and Wooden Mackenzie.
