US energy storage installations set Q1 record with 84% jump: WoodMac/ACP

June 25, 2024

Amid a strong start to the year for grid-scale energy storage capacity installations, WoodMac and ACP forecast 11.1 GW in total grid-scale installations for 2024, a 45% increase over 2023. Texas is expected to account for the most megawatts installed this year, overtaking California.

In the first quarter, 12 utility storage projects were installed in Texas while California had nine. Nevada’s solar-paired Gemini Energy Storage project accounted for its entire utility storage gain.

Wood Mackenzie and ACP forecast 12.9 GW in total storage installations across all segments in 2024, up 44% from 2023. Though still a robust rate of growth, that’s slower than the 86% increase from 2022 to 2023, Weis said.

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