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The Storage Steamroller

June 24, 2024

Battery storage is setting records. The grid-scale segment installed 993 MW, producing the highest Q1 on record for the grid-scale segment, according to Wood Mackenzie and the American Clean Power Association’s newly released U.S. Energy Storage Monitor report. The U.S. energy storage market set a first-quarter record for capacity installed in Q1 2024, with 1,265 megawatts (MW) deployed across all segments. This marks the highest storage capacity ever installed in a first quarter in the U.S., representing an 84% increase from Q1 2023. 

Despite seasonal patterns of project installations resulting in a drop, Q1 installation additions of 993 MW in the grid-scale segment represent a 101% increase over Q1 2023. The grid-scale segment is forecasted to end 2024 with 11.1 GW installed, a 45% increase year-over-year. Texas will overtake California for new capacity installed (in MW terms) this year.

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