The US energy storage sector is at a record high
In the second quarter of this year, the United States experienced a notable surge in energy storage installations, tripling the amount installed in the preceding quarter. These findings are detailed in the Clean Power report, which has been released by the American Clean Power Association (ACP) trade group. The report focuses on the installed capacity of energy storage facilities.
The report reveals that during the second quarter of 2023, the United States witnessed the successful deployment of large-scale energy storage initiatives, amounting to a combined capacity of 1,510 megawatts (MW). This is a substantial increase compared to the first quarter of this year, which recorded an installation of “only” 554 MW. These statistics are sourced from a collaborative effort between Wood Mackenzie Power & Renewables and the American Clean Power Association (ACP).
Photovoltaic leader
The most significant advancements were observed in the photovoltaics sector, with the past three months seeing a cumulative installation of photovoltaic (PV) systems reaching 2,740 megawatts (MW). Notably, energy storage systems secured the second spot on the list, with Battery Energy Storage Systems (BESS) installations being followed by wind energy installations, totaling 968 MW.
The recent surge in new energy storage systems, featuring a capacity of 1,510 MW, contributes to a collective capacity of 5,098 megawatt-hours (MWh). The report’s authors view this progress in the energy storage domain as a noteworthy development.
The entire realm of energy storage and renewable energy experienced a rebound following a sluggish first quarter this year. The latest robust quarter comparable to this occurred in 2021, registering a remarkable 7,189 MW of installations in the mentioned technologies.
Favorable legislation
The remarkable expansion of renewable energy sources (RES) and Battery Energy Storage Systems (BESS) in the United States owes much to the Inflation Reduction Act (IRA), which was enacted under President Joe Biden’s administration. This comprehensive support initiative encompasses various provisions, including tax credits (ITC) tailored for individual energy storage solutions.
By the conclusion of the second quarter in 2023, the United States has impressively surpassed an overall installed grid-connected energy storage capacity of 11 gigawatts (GW). This achievement translates to a substantial energy capacity of 31,066 megawatt-hours (MWh).