The U.S. has the largest amount of new energy storage deployments ever
Add Axios as your preferred source to
see more of our stories on Google.
The first quarter of 2019 brought the largest amount of new U.S. energy storage deployment on record, a new report shows.
Why it matters: Storage from batteries and other methods helps to integrate growing amounts of renewable power and dispatch it when it's most needed.
By the numbers: The first quarter saw roughly 150 megawatts of new deployment, a 6% rise from the prior 3 months and a 232% increase from the same period last year, per the report from Wood Mackenzie Power & Renewables and the U.S. Energy Storage Association.
Where it stands: Falling costs and supportive policies in several states are helping to drive growth.
- Federal policy is also helping because some solar projects that have a storage component are eligible for solar project tax credits.
- But advocates want lawmakers to approve tax credits for stand-alone storage projects.
The big picture: The report projects the U.S. storage sector will more than quadruple in size to become a $4.8 billion market in 2024.
