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.

Research firm Wood Mackenzie has released its latest global battery energy storage system BESS integrator report, for 2023, showing the market became more competitive with a smaller share by the top five.

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

The US energy storage industry enjoyed another quarter of record growth in Q2 2023, with 1,680MW/5,597MWh of new installations tracked by Wood Mackenzie.

The US energy storage sector deployed 4.8GW in 2022, close to the combined amount installed in 2020 and 2021.

Nearly 12,000MWh of energy storage could be installed in the US during 2021 and the market will continue growing significantly over the next few years, according to research and analysis group Wood Mackenzie Power & Renewables.

The Americas region is on track to leapfrog Asia-Pacific in terms of deployed energy storage by 2025, before accounting for more than half of global capacity by the end of the decade, new analysis from Wood Mackenzie suggests.

Energy storage enjoyed another record-breaking year of deployments in the US in 2018, while the residential segment is now “moving beyond early adopters” and into commercial viability, a report from Wood Mackenzie Power & Renewables claims.