September 2, 2020
Long-duration energy storage makes progress but regulation lags technology
The U.S. energy storage market was booming until the Covid-19 virus hit — and it continues to boom, despite, or because of the pandemic. The U.S. energy storage market is forecast to grow from 523 MW in 2019 to 7.3 GW in 2025, according to energy analyst Wood Mackenzie. Today’s energy storage market is absolutely dominated by lithium-ion batteries, but a host of new energy storage technologies are being brought to market — offering longer durations and potential improvements in project economics and functionality.
