The grid storage boom: Emerging applications and policies
The U.S. grid-scale storage market is in the midst of an unprecedented boom. More than 5 gigawatts were installed in 2022, up from less than 1 gigawatt of grid-scale energy storage in 2019.
In the near term, supply constraints will be the primary constraint on this sector’s growth, with most grid batteries scheduled for production through 2024 already committed to projects.
The grid-scale storage market must keep growing at a breakneck pace to incentivize domestic manufacturing. This paper explores the key market opportunities for grid-scale batteries to address multiple challenges on the grid, including:
- Integrating intermittent renewables to address transmission constraints
- Enabling EV adoption and boosting grid resilience
- Regulatory innovation that allows grid storage to function as a multifaceted “Swiss Army knife” that can meet ever-evolving grid needs
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