Supportive policies and falling costs will help the deployment of energy storage systems in the USA to almost triple in 2018, according to new market research.
A report by GTM Research and the Energy Storage Association says that deployment will reach 1223 MWh of storage this year, up from 431 MWh in 2017.
The increase is partly due to some projects scheduled to start up in 2017 being pushed back to start up in 2018, GTM says. However, falling costs of energy storage technologies, coupled with supportive policies in some states, is also stimulating the market.
GTM’s research also shows that the US storage market will grow 15 times between 2017 and 2023, and that it will grow 12 times in dollar value over the same period, reaching $3.8 billion in 2023. However, it warns that the recent ruling in the solar trade case could impact the storage market because of the growing connection between solar and storage, especially in behind-the-meter applications.
California is one of the largest markets in the USA, with over 6544 kW of storage deployed in the residential sector in 2017, and a further 45.1 MW in the non-residential sector. In the front-of-meter sector, California installed 43 MW of energy storage in 2017, just behind Texas, which deployed almost 52 MW in this market segment.
GTM says that system storage costs have fallen by roughly two-thirds in the last five years. In addition, more US states are mandating utilities to procure storage systems.
In 2017, the US energy storage market was valued at $300 million. It is set to reach $1 billion in 2019, the report says.
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