The US grid storage market added 2773MW in the second quarter of 2024, according to data from the American Clean Power Association (ACP) and Wood Mackenzie.
In their latest US Energy Storage Monitor report every segment of the country’s energy storage market experienced growth in the second quarter over year-ago totals.
In total, the market saw 3011MW deployed.
California, Arizona and Texas were responsible for 85% of installations.
“Energy storage is becoming a mainstay of the power grid, delivering a more resilient and affordable grid,” said ACP senior vice president of markets and policy analysis John Hensley.
He added: “Additional storage capacity across US markets is helping to provide a cost-effective and reliable solution to serious problems such as rising energy demand, a timely need for more overall capacity, and more volatile and extreme weather events.
“To keep the trend going, it’s important to find solutions for development challenges such as lengthy interconnection queues and permitting and siting.”
Senior analyst with Wood Mackenzie’s energy storage team Vanessa Witte said: “This quarter showed massive growth compared to year-ago levels and the grid-scale segment continues to be the main driver.”
According to Wood Mackenzie’s five-year outlook for the US energy storage market, total US storage deployments will grow 42% between 2023 and 2024, but capacity additions will level out as deployments increase with an average annual growth rate of 7.6% between 2025 and 2028.
Across all segments, the industry is expected to deploy 12.8GW in 2024.
The grid-scale segment is projected to increase 32% year-over-year with 11GW deployed by year-end and 62GW cumulatively from 2024-2028.