U.S. Energy Storage Market Analysis Focusing on Top Key Players – ABB, SolarEdge, Tesla, EDF Renewable Energy, Duke Energy, E.ON, East Penn Manufacturing, LG Chem, Johnson Controls, Invenergy, GE Power, Fluence Energy

The commercialization potential of U.S. energy storage market has been witnessing significant uptick in the recent times owing to the rapidly increasing need for grid resiliency prevalent in myriad geographies across the globe. With the growing inclination toward renewable energy and sustainable development, various governments are investing heavily in energy storage infrastructure and building a smart and reliable grid network to support expansion of numerous business verticals. Moreover, U.S. energy storage market players have been proactive in unveiling improved storage systems to enhance the accessibility of electricity generated through clean energy sources. As per reliable sources, U.S. witnessed the installation of a record 221 megawatts of storage capacity across the nation in 2015. This number was itself a big jump over the previous year which was 54 megawatts and demonstrates the transformative future of U.S. energy storage industry trends.

Market Study Report adds 2024 U.S. Energy Storage Market Report 2018- 2024 that gives meticulous investigation of current scenario of the market size, share, demand, growth, trends, and forecast in the coming years.

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The U.S. lithium ion energy storage market is set to grow on account of constantly declining technology costs primarily driven by economies of scale in manufacturing. Li-ion batteries find use across numerous applications comprising frequency regulation, residential solar storage and E-V charging stations amongst others. High energy density and appreciable coulombic efficiency are some of the primary features that will persistently fuel the product deployment over its available conventional alternatives.

Major companies participating actively in the U.S. energy storage industry include ABB, SolarEdge, Tesla, EDF Renewable Energy, Duke Energy, E.ON, East Penn Manufacturing, LG Chem, Johnson Controls, Invenergy, GE Power, Fluence Energy, and EnerVault amongst others.

U.S. Energy Storage Market is anticipated to surpass USD 4 billion by 2024. Rising regulatory focus toward limiting carbon emissions while adding new capacities of renewable generation to the grid will boost the U.S. energy storage market growth. Key states including New York, Massachusetts, Oregon and California have adopted plans to integrate large scale energy storage systems to the grid. In June 2018, the government of New York introduced state?s energy storage roadmap with a deployment target of 1,500 MW of energy storage by 2025.

Growing penetration of intermittent renewable power into the grid coupled with favorable policies and monetary support for energy storage will drive the U.S. residential energy storage market. Hawaii and California together account for a significant share of total residential energy storage across the country with fresh participation expected from Massachusetts and Arizona in the coming years. Reduction in net metering compensation along with introduction of time of use tariffs by utilities will further stimulate the industry growth.
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Utility energy storage market is predicted to surpass USD 1.5 billion by 2024. Growing significance of grid stability, with the implementation of sustainability, resilience, and efficiency will positively influence the industry growth. Aging grid infrastructure and rising concerns over climate change will further fuel the business growth.

Table of Content:

Chapter 1 Methodology & Scope

Chapter 2 Executive Summary

Chapter 3 U.S. Energy Storage Industry Insights

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

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

Chapter 6 Company Profiles

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Outer scope of this Report: Battery technology is progressing at a faster pace, particularly in the form of lithium ion. In addition to his, the safety of lithium ion batteries has improved significantly and their prices have been falling steeply over the past few years. In terms of durability and efficiency, lithium ion batteries are known to work both in applications that require lower amounts of energy for longer period and those requiring more energy for shorter duration. Remarkably, governments across major economies have introduced subsidies and supportive policies for energy storage manufacturers. In this regard, it would be prudent to mention that strict regulatory guidelines to reduce emissions would help augment U.S. energy storage market share expansion.

Related Report:

Global Advance Energy Storage Market 2018 by Manufacturers, Regions, Type and Application, Forecast to 2023

This report focuses on the Advance Energy Storage in global market, especially in North America, Europe and Asia-Pacific, South America, Middle East and Africa. This report categorizes the market based on manufacturers, regions, type and application. Energy storage is critical for a wide variety of major societal challenges including transitioning to near zero emissions transportation and making the electrical power grid more compatible with renewable energy generation. There is tremendous need for fundamental discovery research in chemistry, materials science, engineering and related disciplines that will lead to new advanced batteries and capacitors with greater energy storage density, longer lifetimes, and which are cheaper, safer and easier to discharge and recharge.

https://www.marketstudyreport.com/reports/global-advance-energy-storage-market-2018-by-manufacturers-regions-type-and-application-forecast-to-2023

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