Wood Mackenzie has forecast that the US energy storage industry will install around half a terawatt-hour of new capacity over the next five years.

With more than 3GW of new deployments in the second quarter of this year, “energy storage is becoming a mainstay of the power grid” in the US.

The US energy storage industry saw its highest-ever first-quarter deployment figures in 2024, with 1,265MW/3,152MWh of additions.

According to Wood Mackenzie, energy storage deployment numbers in the US broke records for three successive quarters with previous records “shattered” to finish the year.

The US energy storage industry’s upward growth trajectory has seen another record-breaking quarter, with 2,354MW and 7,322MWh of deployments in Q3 2023, according to Wood Mackenzie.

US energy storage industry is going strong despite delays due to supply chain issues, interconnection queue waiting times and other factors.