The State Of The US Energy Storage Market https
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Posted On: 06/30/2024 9:17:52 AM
The State Of The US Energy Storage Market
https://www.forbes.com/sites/woodmackenzie/20...ge-market/
** Another record-breaking year is expected for energy storage in the United States (US), with Wood Mackenzie forecasting 45% growth in 2024 after 100% growth from 2022 to 2023. Although seasonal fluctuations in project completions meant installations were low in first quarter of this year, robust pipeline growth supports this forecast and higher installations are expected later in the year, similar to 2023.
Annual storage installations are growing faster than wind and solar as the sector races to keep up with the growing need to balance renewables and support grid resiliency. The storage market is also supported by falling module costs and IRA tax incentives. There are some challenges the market has to contend with to achieve the massive growth predicted and needed by the system, but there are huge areas of opportunity as well.
icymi
dyodd
https://www.forbes.com/sites/woodmackenzie/20...ge-market/
** Another record-breaking year is expected for energy storage in the United States (US), with Wood Mackenzie forecasting 45% growth in 2024 after 100% growth from 2022 to 2023. Although seasonal fluctuations in project completions meant installations were low in first quarter of this year, robust pipeline growth supports this forecast and higher installations are expected later in the year, similar to 2023.
Annual storage installations are growing faster than wind and solar as the sector races to keep up with the growing need to balance renewables and support grid resiliency. The storage market is also supported by falling module costs and IRA tax incentives. There are some challenges the market has to contend with to achieve the massive growth predicted and needed by the system, but there are huge areas of opportunity as well.
icymi
dyodd
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