In their 1963 recording “Little Saint Nick,” the Beach Boys correctly diagnosed that “Christmas comes this time each year.” The same could be said of Wood Mackenzie's Energy Storage Monitor for the year’s third quarter, typically published to coincide with the annual Energy Storage Summit at the start of December.
But never before has this periodic occurrence generated such excitement. The latest data drop, you may have seen, contained a remarkable 240 percent quarter-over-quarter surge in U.S. energy storage deployment, bringing the nationwide total to 476 megawatts installed.
Naturally, the headline numbers mask a wealth of stories and trends that are hard to capture in a quick news story. But that’s why we have GTM Squared. This week on Storage Plus, I’m digging into the underlying dynamics from this most dynamic of quarters, to see where the action is and where things are lagging. The trend lines are up and to the right for the largest battery projects, but distributed storage has yet to prove its potential for massive growth. And any storage technologies besides lithium-ion batteries have even more to prove.