Wood Mackenzie reported robust development in Q1 year-over-year for grid-scale storage and residential storage within the USA, whereas industrial and industrial storage slowed.
From pv journal ESS News website
ood Mackenzie and American Clean Power launched its quarterly Energy Storage Monitor report, noting that the US storage market posted robust development within the grid-scale and residential storage sectors, whereas the industrial sector and industrially withdrawn in Q1 2024.
The grid-scale market put in 993 MW / 2,952 MWh of storage, with California, Texas, and Nevada answerable for 90% of the entire. This was a file quarter for grid-scale storage, which grew 84% year-over-year in Q1 2023. The giant backlog of grid-scale storage with interconnection purposes grew 10% year-over-year, which there are 426 GW of storage within the queue throughout the nation.
Costs have fallen considerably yr over yr, with grid-scale storage averaging $1,776 per MWh in Q1 2023 and falling 39% to $1,080 per MWh in 2024. in 2024 with 11.1 GW /31.6 GWh put in, bringing the entire cumulative quantity over the following 5 years to 62.6 GW/219 GWh.
About 250 MW / 515 MWh of residential storage was put in, posting a slight enhance of 8% over This fall 2023. Interestingly, the residential photo voltaic phase grew 48% on a MW capability foundation year-over-year for Q1.
Batteries are included in 41% of put in photo voltaic arrays in California
California tripled the variety of house storage installations yr over yr for Q1. Batteries are included in 41% of put in photo voltaic arrays in California, suggesting there may be loads of room for development, Wood Mackenzie mentioned. High rates of interest proceed to pull down the residential photo voltaic and storage market, rising the price of third-party owned techniques corresponding to leases and energy buy agreements (PPAs ).
Wood Mackenzie predicts that 13 GW of distributed storage will probably be put in over the following 5 years. The residential phase will comprise 79% of the distributed energy capability installations, mentioned the report. It says extra residential storage is coming on-line as prices fall and the export worth of rooftop photo voltaic mid-day additionally falls.
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