Power storage applied sciences present an answer to retailer extra vitality and use it when there may be too little era or an excessive amount of demand. This helps obtain flexibility, improve grid reliability and energy high quality and accommodate the scale-up of renewable vitality.
The states of Nevada, California and Texas led the best way, accounting for 90% of recent grid-scale capability added.
“The fast development of the vitality storage trade comes at a important time, offering an answer to rising vitality demand and more and more variable climate situations which are inserting added stress on the grid,” John Hensley, vp of markets and coverage evaluation at ACP mentioned in an announcement.
The residential section set a file for quarterly installations at 250 MW in Q1, an 8% enhance over the earlier file set in This fall 2023. California drove development within the residential section, putting in 24% greater than the earlier quarter.
California additionally led the neighborhood, business, and industrial (CCI) section to put in 19.4 MW, which represents a 43% decline quarter-on-quarter (QoQ), as each New York and Massachusetts skilled one of many slowest CCI quarters in recent times.
The report additionally exhibits that storage prices from the cell to dam stage proceed to say no—not solely as a direct results of lithium price reductions, but in addition attributable to world provide chain dynamics, reminiscent of oversupply and market competitors.
Trying forward, the report predicts that the US vitality storage market will see 12.9 GW deployed throughout all segments this yr. New capability additions are attributable to break the ten GW mark for the primary time ever, with 75 GW forecasted throughout all segments by to 2028, in accordance with the examine