American Clean Power reports ‘banner year’ for BESS, solar

American Clean Power reports ‘banner year’ for BESS, solar

American Clean Power reports ‘banner year’ for BESS, solar 1024 834 Energy Storage Journal

March 21, 2024: Energy storage capacity in the US nearly doubled in 2023 as developers connected 7.9GW to the grid, according to latest data from the American Clean Power Association.

Solar and storage led the charge as the industry added a total of nearly 34GW of new utility-scale clean energy projects to the grid, surpassing by 12.5% the previous annual installation record set in 2021, ACP said on March 7 in its Clean Power Annual Market Report*.

Battery storage demonstrated near-exponential growth by almost doubling installed capacity with around 8GW installed. This brings total operating capacity to 17GW, according to the report.

California and Texas accounted for nearly three quarters of the year’s storage additions, but a total of 15 states added new storage capacity in 2023.

The rapid growth of storage was supported by a new tax credit for standalone storage, the boom in solar power, the value storage delivers during peak demand and times of grid stress and a decline in prices for key battery materials.

Solar, wind, and storage accounted for 77% of all new power capacity installed.

ACP chief executive officer Jason Grumet said 2023 was a banner year for storage and solar.

“But despite these achievements, we need to make even greater strides to meet our shared energy security and net-zero goals.”

Energy Storage Journal reported last October that Fluence Energy had unveiled its latest iteration of its Gridstack BESS, which can use one of the firm’s new US-only content battery packs — eligible for federal investment tax credits.

In November renewables firm Arevon Energy said it had secured a financing deal including $191 million in US tax credits for a solar-BESS project in California.

*The report is available in full online. Graphic courtesy ACP