Wood Mackenzie has released its Q3 2023 energy storage market report, listing a new record high for installations in the U.S. for Q2 2023. The United States deployed 1,680 MW / 5,597 MWh of energy storage nationwide, leading to an average duration of 3.3 hours. Despite this record quarter, Q2 installations were meaningfully lower than expected based on project pipelines. Wood Mackenzie sees growth ahead for the residential energy storage segment, with the sector forecast to install 3.5 times more solar in 2027 than it did in 2023 and 8.0 GW for the sector over a five-year horizon. The report projects 66 GW of energystorage added, 83% of which will be grid-scale capacity. Regulatory challenges hampered residential storage in the near-term, while supply challenges trimmed near term forecasts across all sectors. Batteries may have reached a peak in late 2022, while labor and balance of plant costs are still increasing due to various factors.
Solar Dominates US Energy Capacity Growth
The Federal Energy Regulatory Commission (FERC) has published data showing that solar accounted for over 75% of US electrical generating
