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U.S. energy storage market sets another record despite 1.1 GW of project delays in Q2

September 19, 2022
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By Chris Crowell September 14, 2022
These battery power storage enclosures are operational at Scott Photo voltaic facility in Powhatan Depend

The U.S. power storage market set a brand new document within the second quarter of 2022, with grid-scale installations totaling 2,608 MWh – the best put in capability for any Q2 on document, in accordance with a Wooden Mackenzie, and American Clear Energy Affiliation (ACP) report.

The U.S. Vitality Storage Monitor report for Q2 confirmed grid-scale storage was boosted by a collection of deployments in Texas, with the state contributing 60% of put in capability this quarter. Nonetheless, challenges to the sector stay as a result of delays.

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“Regardless of spectacular development, the U.S. grid-scale power storage pipeline continues to face rolling delays into 2023 and past. Greater than 1.1 gigawatts (GW) of tasks initially scheduled to return on-line in Q2 have been delayed or cancelled, though 61% of this capability, 709 megawatts (MW), remains to be scheduled to return on-line in Q3 and This fall of 2022,” stated Vanessa Witte, senior analyst with Wooden Mackenzie’s power storage workforce.

“Provide chain points, transportation delays and interconnection queue challenges have been the principle drivers behind delays within the industrial operations date (COD) for a lot of tasks,” Witte added.

Given the prevalence of hybrid deployment between storage and photo voltaic, ongoing commerce points negatively impacting the photo voltaic business contributed to headwinds for power storage deployment. Specifically, the present enforcement of the Uyghur Pressured Labor Prevention Act (UFLPA), lately enacted by U.S. Customs and Border Safety (CBP).

See also  Grid-Scale Energy Storage Reached Record Installations in Q2

The U.S. Congress handed a photo voltaic funding tax credit score (ITC) extension and standalone storage ITC as a part of the Inflation Discount Act. This important piece of laws will assist all segments of the power storage business, growing deployment of solar-plus-storage methods whereas additionally incentivizing standalone amenities. In consequence, Wooden Mackenzie forecasts 59.2 GW of power storage capability to be added by way of 2026.

“The U.S. power storage business is reaching maturity,” stated Jason Burwen, Vice President of Vitality Storage at ACP. “Vitality storage is now repeatedly being put in at over a gigawatt per quarter. As well as, Texas overtaking California this quarter ought to function a reminder that turbines, prospects, and grid operators in all geographies are more and more counting on power storage. Mixed with the tailwinds of newly out there tax credit from the Inflation Discount Act, the query for buyers and grid operators now just isn’t whether or not to deploy storage, however how a lot storage to deploy – and how briskly.”

Residential storage additionally had its strongest quarter so far with 375 MWh put in in Q2, beating the earlier quarterly document of 334.1 MWh in Q1 2022.

Demand is rising within the residential phase with over 150 MW of residential storage put in for the primary time, however ongoing provide shortfalls and rising costs have suppressed deployment. New photo voltaic installers proceed so as to add storage to their product choices, regardless of ongoing procurement points.

“The photo voltaic ITC extension is sweet information for the residential storage business, stopping a drop in residential solar-plus-storage installations that may have in any other case arrived in 2024. The standalone storage ITC may also enhance storage retrofits on houses with current photo voltaic,” stated Chloe Holden, analysis analyst at Wooden Mackenzie, and one of many authors of the report.

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Group, industrial and industrial (CCI) storage continues to lag behind different market segments, with solely 59.4 MWh of CCI storage installations seen this quarter, making it the bottom quarter recorded for MWh capability since 2019.

“Market gamers look ahead to the emergence of a extra numerous market, however present deployment stays restricted to a couple coverage leaders in California, New York and Massachusetts,” Holden added.

Tags: market analysis

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