Commodities and Futures News

US grid-scale energy storage installations hit new quarterly record – report

2023.09.25 01:39


© Reuters.

(Reuters) – The U.S. grid-scale energy storage installations hit a new record in the second quarter of 2023, a report by Wood Mackenzie and the American Clean Power Association (ACP) said.

Grid-scale energy storage is essential in helping balance and regulate energy supply in a grid that is increasingly reliant on intermittent wind and solar power.

“The energy storage market is on pace for a record year, as utilities and larger power users increasingly turn to storage to enhance the grid and improve reliability,” said ACP VP of Research and Analytics, John Hensley.

Across all segments of the industry, the U.S. energy storage market added 5,597 megawatt hours (MWh) in the second quarter this year, a new quarterly record. The grid-scale segment registered 172% growth quarter-over-quarter, surpassing the previous record set in the last quarter of 2021.

California dominated the activity, as it accounted for 49% of the installed capacity, with 738 megawatts (MW).

“We saw a huge bounce back in Q2 after consecutive quarterly declines in the market,” said Vanessa Witte, senior analyst with Wood Mackenzie’s energy storage team.

“Many projects delayed from prior quarters, largely due to supply chain issues, were able to come to fruition this past quarter.”

Wood Mackenzie expects the grid-scale segment to be the main driver of the market in its five-year forecast from 2023-2027, accounting for 83% of the total installations.

Meanwhile, community, commercial, and industrial (CCI) installations were at 107 MWh in the second quarter, according to the report. This was higher than any quarter in 2022 but 53% lower than the previous quarter.

Residential storage recorded its second-straight quarter of declines at 381.2 MWh, the report said.

Source link

Related Articles

Back to top button
bitcoin
Bitcoin (BTC) $ 82,932.22 0.38%
ethereum
Ethereum (ETH) $ 1,935.28 1.51%
tether
Tether (USDT) $ 1.00 0.00%
xrp
XRP (XRP) $ 2.29 0.35%
bnb
BNB (BNB) $ 616.73 1.60%
solana
Solana (SOL) $ 125.08 0.36%
usd-coin
USDC (USDC) $ 1.00 0.00%
cardano
Cardano (ADA) $ 0.706768 0.00%
dogecoin
Dogecoin (DOGE) $ 0.168692 0.29%
tron
TRON (TRX) $ 0.241059 8.56%
staked-ether
Lido Staked Ether (STETH) $ 1,935.18 1.64%
wrapped-bitcoin
Wrapped Bitcoin (WBTC) $ 82,730.17 0.40%
leo-token
LEO Token (LEO) $ 9.78 0.04%
chainlink
Chainlink (LINK) $ 13.92 0.31%
the-open-network
Toncoin (TON) $ 3.55 2.99%
stellar
Stellar (XLM) $ 0.278214 3.64%
usds
USDS (USDS) $ 1.00 0.03%
wrapped-steth
Wrapped stETH (WSTETH) $ 2,313.33 1.34%
pi-network
Pi Network (PI) $ 1.16 8.50%
hedera-hashgraph
Hedera (HBAR) $ 0.187448 0.27%
avalanche-2
Avalanche (AVAX) $ 19.10 2.38%
shiba-inu
Shiba Inu (SHIB) $ 0.000013 1.25%
sui
Sui (SUI) $ 2.31 1.87%
mantra-dao
MANTRA (OM) $ 7.04 0.84%
polkadot
Polkadot (DOT) $ 4.49 4.62%
litecoin
Litecoin (LTC) $ 90.43 0.33%
bitcoin-cash
Bitcoin Cash (BCH) $ 334.37 0.03%
bitget-token
Bitget Token (BGB) $ 4.59 3.55%
ethena-usde
Ethena USDe (USDE) $ 0.999644 0.03%
weth
WETH (WETH) $ 1,933.81 1.40%
binance-bridged-usdt-bnb-smart-chain
Binance Bridged USDT (BNB Smart Chain) (BSC-USD) $ 0.997417 0.32%
hyperliquid
Hyperliquid (HYPE) $ 13.97 6.87%
wrapped-eeth
Wrapped eETH (WEETH) $ 2,055.11 1.49%
whitebit
WhiteBIT Coin (WBT) $ 28.14 1.00%
uniswap
Uniswap (UNI) $ 6.40 3.31%
monero
Monero (XMR) $ 207.17 0.93%
susds
sUSDS (SUSDS) $ 1.04 0.14%
aptos
Aptos (APT) $ 5.45 3.63%
dai
Dai (DAI) $ 1.00 0.06%
okb
OKB (OKB) $ 52.84 2.26%
near
NEAR Protocol (NEAR) $ 2.59 0.25%
pepe
Pepe (PEPE) $ 0.000007 0.32%
internet-computer
Internet Computer (ICP) $ 5.84 0.12%
ethereum-classic
Ethereum Classic (ETC) $ 18.05 2.68%
mantle
Mantle (MNT) $ 0.808029 1.80%
gatechain-token
Gate (GT) $ 22.04 0.77%
ondo-finance
Ondo (ONDO) $ 0.840287 0.05%
aave
Aave (AAVE) $ 172.03 0.32%
coinbase-wrapped-btc
Coinbase Wrapped BTC (CBBTC) $ 82,942.22 0.35%
tokenize-xchange
Tokenize Xchange (TKX) $ 31.12 5.40%