Market Report
US energy storage monitor: Q2 2023
Report summary
The US Energy Storage Monitor explores the breadth of the US energy storage market. This quarter's release includes an overview of updates in the US energy storage market, with new deployment data from Q1 2023. It includes key trend analysis for policy landscape, system price trends, VC investments, M&A, vendor activities and deployments across residential, non-residential and front-of-the-meter segments. The report culminates in a market outlook through 2027. Across all segments of the industry, the US energy storage market added 2,145 megawatt hours (MWh) in the first quarter of 2023, a 26% decrease from Q4 2022. The grid-scale segment installed 1,553 MWh in Q1 2023, recording the second straight quarterly decline and falling 33% below first quarter 2022 installations. The residential segment recorded its highest Q1 by deploying 155.4 MW and 388.2 MWh compared to 141.5 MW and 340 MWh for Q1 2022.
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