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U.S. Energy Storage Market Trends, Strong Application Scope, Size, Status, Analysis and Forecast to 2024

Author : Rahul Sankrityayan | Published Date : 2019-11-06 

Global Market Insights adds global U.S. Energy Storage Market report which focuses on the major drivers and restraints for the key players. It also provides analysis of the market share, segmentation, revenue forecasts and geographic regions of the market.

Concentration for residential deployment of energy storage systems have been most noticeable in two states, namely, California and Hawaii, which have together accounted for 72% of megawatt-hours in the last quarter of 2018 while Massachusetts with its new SMART program and Arizona, is expected to see some new tariff structures, and is a key contender for the third spot in the residential segment of U.S. energy storage market.

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Not only lowered cost for renewable energy resources but also state policies will also contribute towards the deployment of energy storage systems and consequently the expansion of U.S. energy storage market, with more batteries being installed in homes, businesses and along the power grid. A fact that deserves special mention is that the U.S. home energy storage in 2018 witnessed more deployment than the front-of-meter storage deployment in the last quarter of the year. According to the U.S. Energy Storage Monitor the residential segment led the way in energy storage deployment, growing tenfold year-over-year.

While NV Energy has made it to the headlines with a contract to build 1000mega-watt of solar energy with 100 mega-watt of storage, Xcel Energy has set a new solar-plus-storage record with a median price of $36 per hour which is lower than the cheapest PV-plus-battery power-purchase agreement till date by as much as 20%. Many other such developments are in the pipeline that will allow solar production to extend past sunset and into the evening when demand peaks, making it competitive in respect to energy supplied by natural gas or fossil fuel resources.

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The U.S. energy storage market has received a major boost from the fact that storage system costs have decreased roughly by two thirds over the last five years while more states have mandated utilities to procure storage systems. As consumers have come to realize that pairing batteries or energy storage with renewable energy projects improves reliability of power supply without creating greenhouse emissions, more homeowners and businesses are showing preference for power with backup energy storage and the option to capture and store excess energy produced in rooftop systems which can later be utilized after sundown, or when the wind is not blowing

With large storage systems for utilities capturing a major portion of the U.S. energy storage industry and more utilities including storage in their solicitations for solar projects, U.S. energy storage market is expected to witness robust growth over 2018-2024. The U.S. energy storage market has been evaluated to amount to $4 billion by 2024 – a commendable upsurge from the $400 million worth in 2017.

Partial Table of Contents (ToC) of the report:

Chapter 4   U.S. Energy Storage Market, By Deployment

4.1   U.S. Energy storage market share by deployment, 2017 & 2024

4.2   Residential

4.2.1   U.S. market from residential, 2013 - 2024

4.3   Non-residential

4.3.1   U.S. market from non-residential, 2013 - 2024

4.4   Utility

4.4.1   U.S. market from utility, 2013 - 2024

Chapter 5   U.S. Energy Storage Market, By Technology

5.1   U.S. Energy storage market share by technology, 2017 & 2024

5.2   Lithium-ion

5.2.1   U.S. market from lithium-ion, 2013 - 2024

5.3   Lead acid

5.3.1   U.S. market from lead acid, 2013 - 2024

5.4   Sodium Chemistry

5.4.1   U.S. market from sodium chemistry, 2013 - 2024

5.5   Flow vanadium

5.5.1   U.S. market from flow vanadium, 2013 - 2024

5.6   Flow zinc

5.6.1   U.S. market from flow zinc, 2013 - 2024

5.7   Others

5.7.1   U.S. market from others, 2013 - 2024

Browse complete table of content of this report @ https://www.gminsights.com/toc/detail/us-energy-storage-market

About Global Market Insights

Global Market Insights, Inc., headquartered in Delaware, U.S., is a global market research and consulting service provider; offering syndicated and custom research reports along with growth consulting services. Our business intelligence and industry research reports offer clients with penetrative insights and actionable market data specially designed and presented to aid strategic decision making. These exhaustive reports are designed via a proprietary research methodology and are available for key industries such as chemicals, advanced materials, technology, renewable energy and biotechnology.

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About Author

Rahul Sankrityayan

Rahul Sankrityayan

Fortified with a post-graduate degree in Computer Applications, Rahul Sankrityan writes for Fractovia, where he pens down news and articles spanning across segments of technology industry that excite him on a day-to-day basis. Rahul comes with a rich experience in technical field as well as writing. He can be contacted at- [email protected] | https://twitter.com/sankritsays

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