The U.S. storage market experienced strong growth in Q1 2024, with grid-scale and residential storage sectors seeing significant growth. California, Texas, and Nevada were responsible for 90% of the total storage installations. The grid scale market saw an 84% year-over-year growth, with a backlog of grid-size storage growing by 10% and 426 GW of storage in the queue nationwide. The residential solar segment grew 48% on a MW capacity basis, with California tripling its number of residential storage installs. Wood Mackenzie predicts that 13 GW of distributed storage will be deployed over the next five years, with the residential segment accounting for 79% of these installations. Despite this growth, the commercial, community and industrial market had its worst quarterly deployment total in years.
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
