US Energy Storage Market Jumps 42% QoQ: Report

The energy storage market in US has tremendously increased from 43.6 MW in Q1 2018 to 61.8 MW in Q2 2018 whereas the market grew 60 percent year-on-year.

A leading clean energy data and information aggregator suggests US’s energy storage market to have jumped 42 percent from the previous quarter.

The energy storage market in US has tremendously increased from 43.6 MW in Q1 2018 to 61.8 MW in Q2 2018 whereas the market grew 60 percent year-on-year.

Being the second largest renewable energy growth leader after China, the country has achieved another milestone of bringing the boost in the power storage market.

According to the experts, the renewable energy generation is solely dependent upon its storage. With approx. figures, US have the capacity to develop renewable energy to power 80 percent of its electricity requirements by 2050.

The most contributing factor behind the substantial growth of the energy storage market is the development of certain state and federal policies.

The position of the storage market has followed after European Union has considered restricting US within solar trade markets.

Source: CESA