Energy storage set up grew almost 200 % and totaled an all-time operational report in fourth quarter 2020, in accordance with a brand new report.
The report launched by analytics and analysis agency Wood MacKenzie and the U.S. Energy Storage Association’s newest U.S. Monitor report indicated that about 2,156 MWh of latest vitality storage was introduced on-line within the final three months of the 12 months. This breaks the earlier quarterly report and is 182 % larger than 2020’s third quarter, in accordance with the report.
Falling costs and fewer boundaries to vitality storage deployment are credited with serving to the quarterly revival. Front-of-meter storage accounted for 4 of each 5 MW deployed within the fourth quarter, in accordance with report.
Residential storage totaled about 90 MW and represented 14 % of the MW complete through the interval. Much of that development was pushed by home-owner curiosity in California, the ESA launch says.
Overall for the 12 months, almost 1,500 MW of capability and three,500 MWh in new storage was introduced on-line. The capability complete was 179 % larger than the earlier 12 months’s installations.
“2020 is the primary 12 months that superior vitality storage deployments surpassed gigawatt scale—an incredible milestone on the trail to our aspiration of 100 GW by 2030,” mentioned Jason Burwen, U.S. Energy Storage Association Interim CEO. “With persevering with storage value declines and rising coverage help and regulatory reform in states and the federal authorities, vitality storage is on an accelerating trajectory to allow a resilient, decarbonized, and reasonably priced electrical grid for all.”
The U.S. vitality storage market is forecast so as to add 5 occasions extra storage—or near 7,000 MW—in 2025, in accordance with the ESA.
Front-of-meter set up may account for as much as 85 % of latest MW yearly, as utilities deploy large-scale initiatives to assist steadiness out intermittent renewable vitality development. The U.S. put in three,115 MWh of storage from 2013-2019, a complete which was exceeded in 2020 alone, Wood Mackenzie Head of Energy storage Dan Finn-Foley famous in an announcement.
“The information really speaks for itself,” Finn-Foley mentioned. “This is the hallmark of a market starting to speed up exponentially, and momentum will solely enhance over the approaching years.”
The world’s largest utility-scale battery storage system, Moss Landing, was introduced on-line earlier this 12 months in Monterey County, California. The 400 MW/1,600 MWh Moss Landing was developed by Texas-based utility proprietor Vistra Energy and is backed by long-term contracts with Pacific Gas & Electric.
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