US Battery Storage: 89% Growth by 2024 Unveiled

The landscape of energy storage in the US is undergoing a remarkable transformation. As the demand for reliable and sustainable energy solutions intensifies, the nation is witnessing a surge in investments and advancements in battery technology. This growth reflects a commitment to reducing reliance on traditional energy sources and highlights the pivotal role of energy storage in achieving a more resilient grid.

US battery storage capacity expected to nearly double in 2024. Courtesy of US EIA’s Today in Energy.

The remarkable surge in US battery storage capacity, poised to witness an 89% increase by the end of 2024, comes as a forecast by the US Energy Information Administration (EIA). According to the government agency, the US battery storage capacity could increase by 89% by the end of 2024 if developers bring all of the energy storage systems they have planned online by their intended commercial operation dates. EIA states, “Developers currently plan to expand U.S. battery capacity to more than 30 gigawatts (GW) by the end of 2024, a capacity that would exceed those of petroleum liquids, geothermal, wood and wood waste, or landfill gas.”

California and Texas are boasting rapidly growing wind and solar fleets. California leads the nation with 7.3 GW of installed battery storage capacity, closely followed by Texas at 3.2 GW. The surge in variable solar and wind capacity in these states aligns with the demand for battery storage, a technology designed to store excess power during low electricity demand and release it when demand peaks.

Related:7 Exciting Developments in Stationary Energy Storage

Top 10 US states with the most installed battery capacity. Courtesy of US EIA’s Today in Energy.

As of the end of 2023, the planned and operational utility-scale battery capacity in the U.S. reached around 16 GW. According to the Preliminary Monthly Electric Generator Inventory, developers are gearing up to add an additional 15 GW in 2024 and approximately 9 GW in 2025. Battery storage projects are scaling up in size, exemplified by Vistra's Moss Landing facility in California, currently the largest operational battery storage site in the country, with a capacity of 750 MW.

Developers anticipate commissioning over 300 utility-scale battery storage projects in the US by 2025, with around 50% of planned installations concentrated in Texas. The five largest upcoming projects in California and Texas, scheduled for deployment in 2024 or 2025, include the following:

This remarkable growth signifies a pivotal moment in the nation's transition towards a cleaner and more resilient energy future.

Related:Battery Energy Storage System Pilot Projects Reshaping Energy

Principal contributors: Katherine Antonio, Alex Mey.