Front-of-meter (utility sited) project development across the US in snapshot. Image: Wood Mackenzie Power & Renewables.
The latest quarterly US Energy Storage Monitor, produced by the national Energy Storage Association and analysis firm Wood Mackenzie Power & Renewables, has predicted annual deployments will reach 7.3GW by 2025.
A more than 14-fold increase is forecast, from 523MW recorded in 2019, with the “sharp scale-ups” both regionally and nationally to be driven primarily by a combination of “utility procurements and the accelerating residential market,” the report claims.
Over the next two years alone, the first really big utility procurements of energy storage are set to come online, causing an expected trebling of the market volume this year and then more than doubling again in 2021.
“The U.S. energy storage market has shown rapid growth over the past decade, moving from pilot to commercial scale, but perhaps most remarkable is the geographic breadth and diversity of its success,” the report said, adding that energy storage is proving a range of services nationwide that shows it has “found a foothold”.
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