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The latest U.S. Energy Storage Monitor report by American Clean Power Association (ACP) and Wood Mackenzie shows that installations of both grid-scale and residential energy storage in the U.S. are on the rise, with record highs reached in the third quarter of 2024. This growth is driven by increasing demand for reliable and affordable energy, as well as the economic benefits of energy storage.

Grid-scale energy storage reached a record high of 3,806 MW installed and 9,931 MWh deployed in Q3 2024, representing an 80% and 58% increase, respectively, from the previous year. The residential market also saw significant growth, with a record 346 MW of installed residential energy storage in Q3, a 63% increase from Q2.

Texas and California led the way for grid-scale energy storage installations, with Texas tripling its installations compared to the previous quarter. The residential market was driven by California, Arizona, and North Carolina, with increases of 56%, 73%, and 100%, respectively.

Experts predict a 30% growth in energy storage installations for 2024, but this growth rate could slow to around 10% from 2025 to 2028. However, grid-scale installations are expected to more than double to 63.7 GW by 2028, and residential energy storage is predicted to reach 10 GW by 2028.

While storage expansion is expected to continue, there are concerns about potential disruptions from the next administration under president-elect Donald Trump. Changes to current tax credits or increases in tariffs could impact progress in the energy storage industry.

The falling costs of battery storage, predicted by experts at the International Energy Agency (IEA), could further increase the resilience and reliability of clean energy sources. This could also make clean energy and storage more cost-effective than traditional energy sources.

Overall, the growth of energy storage in the U.S. is a positive sign for the clean energy industry and the transition to a more sustainable future. However, potential policy changes and disruptions could impact the pace of this growth.