The US distributed solar-plus-storage market, hot topics for ERCOT and MISO, The Interchange Recharged, and more.
Wood Mackenzie Power & Renewables
Wood Mackenzie is the leading global data and analytics solutions provider for the energy transition.
The state of US distributed solar-plus-storage
Attachment rates are booming for residential installations, but the non-residential segment has been slower to adopt batteries.
Pairing solar with battery storage provides a key solution to intermittency which has long been an Achilles heel for solar power. So, is solar-plus-storage taking off as an effective, future-proof solution to supplying US homes and workplaces with electricity?
At our recent Solar & Energy Storage Summit 2024 in San Francisco, we delivered an in-depth assessment of the current state of the US distributed solar-plus-storage market.
Download an extract of our presentation from the Summit or read a summary of the key takeaways here.
US seasonal outlook webinars: hot topics for ERCOT and MISO in summer 2024
The US Energy Information Administration predicts record highs for US power consumption in 2024 and 2025, as homes and businesses use more electricity for heat and transportation. As demand rises, US Regional Transmission Organisations (RTOs) must also cope with the progression away from fossil fuels to renewable generation. So, how are grid operators coping?
In our Summer 2024 outlook webinars, Wood Mackenzie’s power and renewables short-term analysts took a close look at how US RTOs have been performing and presented their expectations for the upcoming season.
The state of the US energy storage market
Another record-breaking year is expected for energy storage in the United States (US), with Wood Mackenzie forecasting 45% growth in 2024 after 100% growth from 2022 to 2023.
Although seasonal fluctuations in project completions meant installations were low in first quarter of this year, robust pipeline growth supports this forecast and higher installations are expected later in the year, similar to 2023.
Annual storage installations are growing faster than wind and solar as the sector races to keep up with the growing need to balance renewables and support grid resiliency. The storage market is also supported by falling module costs and IRA tax incentives.
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There are some challenges the market has to contend with to achieve the massive growth predicted and needed by the system, but there are huge areas of opportunity as well.
The Interchange Recharged
Distributed energy storage is taking off
Managing intermittent energy supply is a crucial part of the energy transition. When the wind doesn’t blow, or the sun doesn’t shine, we need a backup. Across two days of the Solar & Energy Storage summit, industry leaders and analysts explored the newest technology providing that service.
Peter Cavan is Senior Vice President of Market Development at Convergent Energy and Power. They finance and manage all aspects of on-site renewable energy development and operations to significantly and sustainably lower electricity bills for the industrial sector, electric cooperatives, and municipal utilities, and investor-owned utilities. Peter joins David in the SESS podcast studio to discuss the future of energy storage and the trends in the market.
The evolution of the solar industry in the US since 2021
In the past three years there’s been a lot of advancement in solar deployment. We’ve seen technology develop and policy support increase. The key talking points have changed similarly in the last three years of the event, but a common thread has been consistent: the importance of supportive government policy.
David is joined by Vanessa Witte, Senior Research Analyst at Wood Mackenzie, and Kelly Sarber, CEO of Strategic Management Group to recap the summit and explore the impact of the most important climate legislation in living memory: the IRA. New tariffs on solar and storage are part of it – what’s the impact been? What are the policy effects on emerging markets?
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