In May 2024, the United States large-scale energy storage market added 1081.4MW to the grid, a year-on-year increase of 637% and a month-on-month increase of 55%. From January to May, the cumulative installed capacity of large reserves was 3,173MW, a year-on-year increase of 218%.
From the perspective of completion rate, the completion rate of the plan in May was 68%, ushering in a very large marginal improvement, which is close to the high point of last year, and the problem of grid connection delay has been greatly alleviated.
From the perspective of project planning scale, the follow-up demand of the United States energy storage market is relatively positive, which has been revised up from April. From June to December 2024, the planned scale is 12.6GW, driven by the obvious improvement in the completion rate, and the annual energy storage grid-connected scale is expected to grow beyond expectations.
Judging from the planning process disclosed by the EIA, the proportion of projects that have completed construction in recent months and whose construction progress is greater than 50% remains high, and the planning completion rate is expected to continue to improve. Combined with the expectation of continuous improvement in planning progress and completion rate, the forecast for the new grid-connected scale of large storage in United States in 2024 was raised to 12.65GW, and the power scale increased by 90% year-on-year.
From the perspective of United States quarterly installed capacity of energy storage, 1.26GW/3.51GWh of new installed capacity was added United States 2024Q1, with a month-on-month decrease of 72% and a year-on-year increase of 64%. The installed capacity before the table was 0.99GW/2.95GWh, -75%/+130% year-on-year. The industrial and commercial installed capacity was 19.4MW/44.4MWh, -52%/-60% year-on-year, and the installed capacity of residential energy storage was 252.4MW/515.7MWh, +5%/+33% year-on-year. The growth of energy storage in front of the meter is high, mainly from Nevada and Texas. From the perspective of behind-the-table energy storage, the installation of industrial and commercial energy storage will be cool, mainly because although California is moving towards the NEM 3.0 era, most interconnected systems still belong to the NEM 2.0 category, and the installed power is insufficient. The installation rate of residential energy storage continues to grow, and under the influence of NEM 3.0, the installation rate of California's household storage market in 2024Q1 will reach 42%.
