U.S. energy storage installations have grown 90% year-over-year, as data by the global renewable energy research firm Wood MacKenzie shows for the first quarter of 2024.

Among the drivers for the continued boom are falling costs, easing supply chains and steady demand, PV Magazine reports.

Total energy storage deployment across the U.S. was 8.7 GW, with California and Texas installations accounting for 77% of additions in the last quarter of 2023.

Most of the storage has been grid-scale, but the residential and commercial markets targeted by YouSolar still grew year-over-year 25% and 7%, respectively.

Energy storage in the U.S. see staggering growth. Source: Wood Mackenzie

The outlook remains strong, particularly for the residential energy storage market. The emergence of storage incentive programs and the transition to NEM 3.0 in California is expected to support growth for years to come.

John Hensley, VP of markets and policy analysis at the American Clean Power Association, remains bullish on energy storage, noting that

“Energy storage has unique capabilities to address grid resilience, with the ability to serve as generation, load, and transmission.

These benefits to the grid have been evident, especially in recent years, as storage has provided reliability and stability during critical moments like historic heat waves.

With a robust pipeline, the future for energy storage deployment is strong.”

Thank you, John, for laying it out; we could not agree more!