Novus Light Home

Solar Novus Blog

Business

Energy Storage in US on the Rise

According to the latest U.S. Energy Storage Monitor, a quarterly publication from GTM Research and the Energy Storage Association (ESA), the US deployed 41.2 megawatts of energy storage in the second quarter of 2016, an increase of 126% over the first quarter of the year.

Year-over-year, energy storage deployments were up just 1%. What the market lacked in annual growth, however, it made up for in geographic and market-segment diversification.

FIGURE: U.S. Quarterly Energy Storage Deployments by SegmentQ2 2016 US Energy Storage Deployments

Source: GTM Research/ESA U.S. Energy Storage Monitor

The largest front-of-the-meter project was not deployed in either PJM territory or California, the perennially leading markets, but rather in MISO’s territory in Indiana. In fact, PJM territory and California together accounted for only 35% of the megawatt capacity and 47% of megawatt-hour capacity deployed in the quarter, their lowest contribution in more than three years. By the end of the year, however, California will reclaim its position as the nation’s top storage market, as several megawatts of storage are slated to be installed in record time to help ease Aliso Canyon-related capacity issues in Southern California.

Behind-the-meter deployments, which consist of residential and commercial energy storage systems, grew 66% year-over-year. The report attributes this success to improving economics and adoption in new state markets.

“The industry continues to surpass milestones, fueled by increased value and market opportunities, as well as plummeting system costs,” said Matt Roberts, executive director of the Energy Storage Association. “After record-breaking deployments in 2015, the energy storage industry is on pace to grow another 30% this year -- increasing grid flexibility, efficiency and resiliency along the way.”

The US. is on track to deploy 287 megawatts of energy storage this year.

Key findings from the report

  • The U.S. deployed 41.2 megawatts of energy storage in Q2 2016
  • The market grew 126% over Q1 2016
  • Behind-the-meter deployments grew 66% year-over-year
  • Recent commitments from the White House will result in 1.3 gigawatts of deployments and $1 billion in investment
  • GTM Research forecasts 287 megawatts of energy storage in 2016

Labels: energy storage,Energy Storage Association,United States,batteries

Back Back to News
 

Innovative Solar Products

Copyright © 2017 Novus Media Today Group, LLC. All rights reserved. Website design and build by MM Design.