December 4, 2020
US Energy Storage Market Shatters Records in Q3 2020
According to Wood Mackenzie and the U.S. Energy Storage Association’s (ESA) latest ’US Energy Storage Monitor’ report, 476 megawatts (MW) of storage were deployed in Q3 2020. This is an increase of 240% over the previous high, set last quarter. As noted in the research, the new record for storage is not an anomaly but rather a sign of things to come as front-of-the-meter (FTM) storage procurements, particularly in California, grow dramatically in number and size.
“Energy storage deployments continue to grow, despite the economic downturn and COVID-related slowdowns,” said Kelly Speakes-Backman, U.S. Energy Storage Association CEO. “The signs are pointing toward an unprecedented increase in energy storage in the coming months, moving us closer toward achieving our 100 GW by 2030 vision. With continued policy support and regulatory reform at the state and federal levels, energy storage is poised to continue this trajectory and enable a more resilient, efficient, sustainable, and affordable electric grid for all.”
