A record was set in Q3 this year for battery storage with 4,733 megawatt-hours (MWh) installed. That is enough to power over 150,000 U.S. homes for a day on a single charge.
The article from Renewable Energy Magazine shares more insight on what this means and how the demand for battery storage continues to increase.
The U.S. energy storage market grid-scale segment installed a record 4,733 megawatt-hours (MWh) in the third quarter of 2022, surpassing the previous quarterly high of 4,598 MWh in Q1 of 2021, according to a new report released today. On a single charge, this amount of battery storage could power over 150,000 U.S. homes for a day.
According to the American Clean Power Association (ACP) and Wood Mackenzie’s latest U.S. Energy Storage Monitor report, grid-scale storage deployments relied heavily on California and Texas, which accounted for 96% of total installed capacity this quarter.
“Demand in the grid-scale and residential storage segments continues to increase, despite rising costs and lingering supply chain challenges,” said Vanessa Witte, senior analyst with Wood Mackenzie’s energy storage team. “Installed capacity is expected to more than double next year, driven by new grid-scale project announcements and increased residential and non-residential volumes in CA due to the introduction of a community solar program and NEM 3.0.”
According to the report, the total forecast volume between 2022-2026 across all segments increased by 109% quarter-over-quarter, and in this timeframe the U.S. storage market will install almost 65 gigawatts (GW) total, with grid-scale installations accounting for 84% of that capacity.
“Demand for energy storage is at an all-time high, driven by sustained higher energy prices, state decarbonization mandates, and Inflation Reduction Act incentives,” said Jason Burwen, Vice President of Energy Storage at the American Clean Power Association.