Third Quarter Shatters Previous U.S. Energy Storage Records

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Approximately 476  MW of energy storage were  deployed this year – an increase of  240% over the previous high set last quarter, according to Wood Mackenzie and the U.S. Energy Storage Association’s (ESA) recently released U.S. Energy Storage Monitor report. As noted in the research, the new record  for storage  is  not an anomaly but rather predictive of things to come as front-of-the-meter  (FTM)  storage procurements, particularly in California, grow  dramatically  in number and size.

While the  residential segment grew  as well,  the major  growth  was in the FTM  market segment – nearly 400 MW and 578 MWh were deployed in Q3, surpassing previous records of 133 MW and 296 MWh  for this sector. More  FTM  storage was installed  in Q3  than  was installed across all segments during any other quarter over the past seven  years.  Despite relatively low durations for systems deployed this quarter, FTM  MWh deployments beat the previous record set in Q1 2017 by nearly 200%.  

“Energy storage deployments continue to grow despite the economic downturn and COVID-related slowdowns,” says Kelly Speakes-Backman, CEO of ESA. “The signs are pointing toward an unprecedented increase in energy storage in the coming months, moving us closer toward achieving our 100 GW by 2030 vision. With continued policy support and regulatory reform at the state and federal levels, energy storage is poised to continue this trajectory and enable a more resilient, efficient, sustainable and affordable electric grid for all.”

Massachusetts continued its strong showing in the  non-residential segment through its SMART program, topping Hawaii’s deployment totals to take second place in the segment. Non-residential deployment has slowed in recent quarters, adding around 30 MW each quarter of this year, in contrast with the segment’s 40+ MW quarterly highs in Q1 and Q4 of 2019. 

The U.S. battery energy storage market is set to grow from today’s 1.2 GW to nearly 7.5 GW (and 26.5 GWh) in 2025,  driven primarily by large-scale utility procurements. Solar+storage  will  account for  a  large  majority of  these  installations – and potentially the vast majority – as developers aim to capture value from the Investment Tax Credit.

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