{"id":65020,"date":"2023-09-25T01:46:46","date_gmt":"2023-09-25T05:46:46","guid":{"rendered":"https:\/\/ifintechworld.com\/markets\/commodities\/us-grid-scale-energy-storage-installations-hit-new-quarterly-record-report\/"},"modified":"2023-09-25T01:46:50","modified_gmt":"2023-09-25T05:46:50","slug":"us-grid-scale-energy-storage-installations-hit-new-quarterly-record-report","status":"publish","type":"post","link":"https:\/\/ifintechworld.com\/?p=65020","title":{"rendered":"US grid-scale energy storage installations hit new quarterly record – report"},"content":{"rendered":"
\n

(Reuters) – The U.S. grid-scale energy storage installations hit a new record in the second quarter of 2023, a report by Wood Mackenzie and the American Clean Power Association (ACP) said.<\/p>\n

Grid-scale energy storage is essential in helping balance and regulate energy supply in a grid that is increasingly reliant on intermittent wind and solar power.<\/p>\n

“The energy storage market is on pace for a record year, as utilities and larger power users increasingly turn to storage to enhance the grid and improve reliability,” said ACP VP of Research and Analytics, John Hensley.<\/p>\n

Across all segments of the industry, the U.S. energy storage market added 5,597 megawatt hours (MWh) in the second quarter this year, a new quarterly record. The grid-scale segment registered 172% growth quarter-over-quarter, surpassing the previous record set in the last quarter of 2021.<\/p>\n

California dominated the activity, as it accounted for 49% of the installed capacity, with 738 megawatts (MW).<\/p>\n

“We saw a huge bounce back in Q2 after consecutive quarterly declines in the market,” said Vanessa Witte, senior analyst with Wood Mackenzie\u2019s energy storage team. <\/p>\n

“Many projects delayed from prior quarters, largely due to supply chain issues, were able to come to fruition this past quarter.” <\/p>\n

Wood Mackenzie expects the grid-scale segment to be the main driver of the market in its five-year forecast from 2023-2027, accounting for 83% of the total installations.<\/p>\n

Meanwhile, community, commercial, and industrial (CCI) installations were at 107 MWh in the second quarter, according to the report. This was higher than any quarter in 2022 but 53% lower than the previous quarter.<\/p>\n

Residential storage recorded its second-straight quarter of declines at 381.2 MWh, the report said. <\/p>\n<\/div>\n

Read the full article here<\/a><\/p>\n","protected":false},"excerpt":{"rendered":"

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