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- February 1, 2021: Vol. 14, Number 2

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The gigawatt economy: U.S. energy storage market shatters records in Q3 2020

by Mike Consol

Some 476 megawatts of storage were deployed in third-quarter 2020, an increase of 240 percent over the previous high set during the previous quarter. What’s more, the U.S. battery energy storage market is set to grow from 1.2 gigawatts in 2020 to nearly 7.5 gigawatts in 2025, driven primarily by large-scale utility procurements, and solar-paired storage will account for a large majority of these installations, according to the U.S. Energy Storage Association.

The major growth was in the front-of-the-meter (or offsite) market segment, accounting for nearly 400 megawatts and 578 megawatt hours deployed during the third quarter, surpassing previous records of 133 megawatts and 296 megawatt hours for this sector. More front-of-the-meter market storage was installed in the third quarter than was installed across all segments during any other quarter over the past seven years, reports Wood Mackenzie.

Meanwhile, the residential storag

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