The U.S. just had its strongest ever third quarter for energy storage
California power shutoffs to spur 2020 growth while utility-scale takes off
Q3 2019 was the strongest third quarter on record for the U.S. energy storage market, with 100.7 megawatts and 264.6 megawatt-hours of storage deployed. The residential storage market slightly outpaced Q2 deployment levels to deliver a new record for quarterly residential deployments — nearly 40 megawatts in the third quarter. Hawaii and Arizona were the largest U.S. markets for residential storage in Q3, and 2020 has major activity in store for California.
The utility-scale storage market rebounded in Q3 after a slump, and utility-scale storage growth will accelerate significantly starting in 2020 as the segment adds 825 megawatts next year and 2,635 megawatts the following year. The segment saw 121% quarter-over-quarter growth in the third quarter, and is on track to grow by nearly 10% year-over-year in megawatt-terms in 2019.
Power shutoff ripple effect
Looking ahead, the power shutoffs over the past few months in California will act as significant drivers of growth in residential storage into 2020 and beyond as more customers explore solar-plus-storage for backup power. Installers are already sharing anecdotes about a surge in residential storage interest in California, and Wood Mackenzie expects a large uptick early next year as marketing efforts for solar-plus-storage started earlier this year bear fruit.
Complete the form on the right to download the free executive summary.
Delivered quarterly, the U.S. Energy Storage Monitor provides the industry’s only comprehensive research on energy storage markets, deployments, policies, regulations and financing in the U.S. These in-depth reports provide energy industry professionals, policymakers, government agencies and financiers with consistent, actionable insight into the burgeoning U.S. energy storage market.
The U.S. Energy Storage Monitor is offered quarterly in two versions– the executive summary and the full report. The executive summary is free, and provides a bird’s eye view of the U.S. energy storage market and the trends shaping it. In contrast, the full report features state-by-state breakdowns and analysis on storage deployments, growth forecasts, policies helping or hindering growth, financing trends, and market strategies. It is available individually each quarter or as part of an annual subscription.
U.S. Quarterly Energy Storage Deployments by Segment (MW)
Source: Wood Mackenzie U.S. Energy Storage Monitor Q4 2019
Executive Summary
Each quarter’s free Executive Summary provides a general breakdown of the current state of the U.S. energy storage market. Executive Summaries feature the following level of analysis and figures:
- National aggregate of deployments, by market segment
- Front-of-the-meter policy developments nationwide
- Behind-the-meter policy developments nationwide
- Historical and projectect market size
Full Report
The quarterly Full Report provides incisive analysis of deployments, prices, and the market landscape. On top of what is in included in the Executive Summary, the full reports feature the following:
- Deployments by market segment and state
- Technology trends and market share
- Front-of-the-meter system prices
- Vendor ecosystem and partnerships
- In-depth state market analysis
- Deployment forecasts by state and market
This quarterly series is provided by Wood Mackenzie Power & Renewables in conjunction with the Energy Storage Association.
Source: woodmac
