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Report reveals rapid increase in energy storage industry over the past few years — here's why it's a big deal

"This changes the whole paradigm of producing electricity, delivering it, and consuming it."

"This changes the whole paradigm of producing electricity, delivering it, and consuming it."

Photo Credit: Getty Images

A U.S. Energy Information Administration report showed utility-scale battery storage capacity is rapidly increasing, helping the nation inch closer to meeting climate goals by 2030, reported EcoWatch.

As of August 2024, capacity reached 21.4 gigawatts. This is a massive increase from the mere 4 megawatts the U.S. had in 2010. A surge in battery storage capacity began in 2020 and has reached an all-time high, with capacity increasing by 5 gigawatts in the first seven months of 2024 alone. 

This increased storage is a welcome addition to previous storage capacity, as renewable energy sources like solar and wind have also increased. 

Increased battery storage is also critical for supporting the nation's electricity grids and balancing out power supply and demand to decrease power outages. 

Out of all the major U.S. power outages reported between 2000 and 2023, weather was responsible for 80% of them, according to Climate Central. More extreme weather — as a result of rising global temperatures — will lead to more power outages.

Batteries don't generate energy, but storing it to be used when needed helps make the power grid and, in turn, our communities more resilient.

John Moura, director of reliability assessment and performance analysis at the North American Electric Reliability Corporation, told the Guardian, "It's been extraordinary growth." 

Moura added, "It's still technology that we are getting used to working with because the system wasn't designed for it, but from a reliability perspective it presents a golden opportunity. This changes the whole paradigm of producing electricity, delivering it, and consuming it. Storage gives us a bit of a time machine to deliver it when we need it."

Elevating our usage of renewable energy sources like solar and wind not only protects communities during extreme weather events, but it's also more affordable and cuts down on pollution output. 

Battery storage and solar energy have been the predominant sources of new utility-scale electricity generation capacity installed during the first half of 2024 in the U.S., per EcoWatch. 

Moura commented to The Guardian, "There are a lot of changes happening but monstrous action is still needed if we are going to make this energy transition."

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