IRA to Ignite ESS Market in 2024....Ready for Take Off $$$ U.S. energy storage market set for take off
The U.S. Inflation Reduction Act (IRA) is set to ignite the energy storage market in 2024, as analysts expect up to 65 GW/260 GWh of projects through 2026. The outlook is for battery project sizes to increase as the pipeline takes shape.
MICHAEL SCHOE The sense was that energy storage is the industry that is going to finally take off this year,” says Andrew Tang, VP of energy storage and optimization for Finnish energy technology company Wrtsil Energy. Voicing a common refrain, Tang adds, “Previously, the storage space was seen as the red-headed stepchild, next to the automotive EV [electric vehicle] space.” For much of the prior decade in the US, energy storage seemed to always lose out, whether for federal subsidy, investment, or a steady battery supply.
With 80% of batteries going into electric vehicles, it’s still hard to see how stationary energy storage.....gffa...