There is a four-fold difference between how much energy storage the US Department of Energy (DOE) forecasted would be deployed by 2040 before the Inflation Reduction Act (IRA), and how much it now forecasts.

Some 710MW of battery storage came online in the US in the first three months of the year, of which around 70% was in the ERCOT, Texas market, S&P Global said.

Almost 70% of home solar PV in Germany comes with battery energy storage attached and the country’s residential storage market represented around 2.3GWh of installed capacity by the end of 2020.

The US is expected to remain the world’s biggest market for energy storage until 2022, with China its closest rival, GTM Research has said.

While research published this week demonstrates that the US as a whole is embracing energy storage technology, with regulator FERC’s recent wholesale market ruling likely to have a “significant impact”, the picture varies greatly when looking from state-to-state, an analyst has said.

US energy storage had a fairly quiet period in the third quarter of this year deploying just 16.4MW/31.4MWh but enjoyed a record quarterly sum of US$660 million of corporate investment.