1. The US energy storage sector saw a 95% increase in power capacity connected to the grid in 2023, with 7,881MW of new installations and 20,609MWh of new capacity deployed.
2. Cumulative battery storage capacity in the US reached 17,027MW and 45,588MWh, an 86% increase in power capacity and an 83% increase in energy capacity.
3. Despite delays in solar PV projects, the battery storage industry had a second successive record year in 2023, with significant growth expected in clean energy manufacturing investments.
In 2023, the energy storage sector in the US connected significantly more storage to the grid than the previous year, with 7,881MW of new storage installations and 20,609MWh of new storage capacity deployed. The cumulative output and capacity of battery storage in the country reached 17,027MW and 45,588MWh, representing an 86% increase in power capacity and an 83% increase in energy capacity. The cost of a 4-hour duration battery energy storage facility participating in energy markets was between US$126 – US$177/MWh, a significant decrease from 2015.
Renewable energy also saw significant growth in 2023, with 33.8GW of new installations, 20GW of which was solar PV. However, solar PV projects faced delays, accounting for 70% of the 60GW of clean power capacity delayed. Battery storage experienced fewer delays compared to other technologies. The US battery storage industry had a second successive record year in 2023, with increased installations and investments in clean energy manufacturing.
The industry is expected to see more growth, with 20 new facilities supporting battery cell and module manufacturing expected to come online by 2030. ACP’s Energy Storage Summit in Austin, Texas aims to accelerate the market for energy storage in the US.