Approximately 11.9 gigawatts (GW) of storage was deployed in 2024. In only the third quarter of 2024, and despite mounting concerns over potential trade and policy developments, the US storage market added a record-setting 3.8 GW of energy storage—an 80% increase compared to the prior year.
Demand for storage capacity is expected to remain strong with the increasing penetration of renewable energy resources and the growing need to address grid reliability that is becoming even more acute with growth in forecasted demand, driven in part by growth in artificial intelligence and data centers.
Increased tariffs and phase-outs of tax credits have the potential to reduce the base case for energy storage by 20% over the next five years and slow or even reverse the rate of growth in 2025 and 2026, but growth is expected to pick up thereafter.
Changes in trade and tax policy may increase costs and put a damper on near-term forecasted energy storage projects. On February 4, 2025, an additional 10% tariff on all goods imported from China went into effect.
Our solar PV systems and energy storage products are engineered for reliability, safety, and efficient deployment. All systems include comprehensive monitoring and control systems with remote management capabilities.
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