Australia’s battery storage market had a record-breaking year in 2023 across utility-scale, residential, and commercial and industrial (C&I) segments.

The US’ cumulative battery storage installations reached 14.689GW at the end of Q3 2023, with Texas’ ERCOT market contributing 40% of new additions during the quarter.

The amount of large-scale battery energy storage systems completed in the US as of Q3 2023 already exceeds the whole of 2022, American Clean Power said.

The US saw roughly triple the amount of grid-scale battery storage installed in the second quarter of this year as it did in the preceding quarter, in megawatt terms.

After a record-breaking year in 2022, the US energy storage industry has seen second successive quarter of declines in installation figures.

The Australian market for residential battery storage grew by an estimated 55% in 2022 from the previous year, according to SunWiz.

The US industry deployed more than 5GWh of energy storage in the third quarter of 2022, close to half the entire amount of storage installed in the country in 2021.

Recent policy developments in the US and European Union represent a considerable uplift to prospects for global energy storage deployment.

Europe’s cumulative electrochemical energy storage installation capacity has gone past the 5GWh mark and this year is likely to see installations almost double from 2020’s figures.

Tesla has kept financial losses at bay in the first quarter of 2020, but battery storage deployments fell significantly from the previous quarter.