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United States: Record for energy storage in Q4 2023

In the last quarter of 2023, the US energy storage market doubled its installation to 4,236 MW, marking an all-time record.
Stockage d'énergie USA record Q4 2023

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In the last quarter of 2023, the US energy storage market experienced unprecedented growth, with 4,236 megawatts (MW) installed. This represents a doubling of installed capacity in the third quarter, according to a recent report. For the first time, the large-scale segment exceeded 3 gigawatts (GW) deployed in a single quarter, coming close to 4 GW, according to Wood Mackenzie. With 3,983 MW of new capacity added, this quarter saw a 358% increase over the same period in 2022.

Regional leadership in deployment

The fourth quarter of 2023 was particularly strong for the US energy storage market, helped by easing supply chain challenges and lower system prices. This quarter was dominated by deployments in the large-scale segment, which recorded the strongest quarterly growth of all segments. California continued to lead installations in terms of MW and MWh, closely followed by Arizona and Texas.

Stagnation and growth in the residential and CCI segments

For the US residential segment, deployments reached 218.5 MW, barely surpassing the previous quarterly record of 210.9 MW set in the third quarter of 2023. Market gains in California were offset by a contraction in Puerto Rico. The community, commercial and industrial (CCI) segment remained stagnant quarter-on-quarter, with 33.9 MW installed in the fourth quarter, where installed capacity was fairly evenly distributed between California, Massachusetts and New York.

In 2023, total deployments in all segments reached 8,735 MW and 25,978 MWh, representing an 89% increase over 2022. Total large-scale installations have reached 7,910 MW and 24,000 MWh for 2023, representing a 98% increase on 2022 installations. The updated five-year forecast now extends to 2028, and projects 59 GW of new capacity additions over this period. According to the report, distributed storage exceeded 2 GWh in 2023, a first for the market, helped by an above-average first quarter for the CCI segment.

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