US energy storage market sees 232 percent year-on-year growth

The U.S. energy storage market set a growth record in Q1 of this year, deploying 148.8 MW, a 232% increase from Q1 2018, and a 6% jump from Q4 2018, according to the latest Wood Mackenzie U.S. Energy Storage Monitor.

Behind-the-meter storage made up 46% of Q1 2019 deployments, representing a 138% growth from Q1 last year and a 36% increase from the fourth quarter of 2018. Meanwhile, front-of-the-meter deployments dropped 10% from last quarter, but still quintupled their growth from Q1 last year.

California led in residential and non-residential storage market growth, but New Jersey, Arizona and Massachusetts dominated front-of-the-meter capacity. Deployments are expected to surpass 4.5 GW by 2024, largely driven by utility procurement and growing awareness of the technology’s benefits to the grid, according to WoodMac.

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