US energy storage monitor: Q3 2021

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 Q2 2021. 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 2026.

345 megawatts (MW) of new energy storage systems were brought online in the second quarter of 2021. This is an increase of 162% over the same quarter in 2020, making Q2 2021 the second-largest quarter on record by MW for U.S. energy storage additions.

• In Q2, the US storage market deployed 162% more new storage in megawatt (MW) terms than was deployed in Q2 2020. Q2 2021 is the third largest quarter on record in MW terms.
• Several large front-of-the-meter projects came online in Q2. Together, Q1 and Q2 make up 12% of the expected megawatt total for 2021 projects, which are heavily weighted towards H2 as more projects on an even larger scale are expected to come online in the remainder of the year.
• The residential market dipped slightly in Q2, the first quarter where installations didn’t climb since Q4 2018. The dip does not signal a lack of demand, which is growing, but is instead the result of equipment constraints hampering the segment’s growth despite the proliferation of new residential storage players.
• The non-residential segment, which consists of onsite storage and community-scale storage, saw deployments rise by 31% from Q1 2021 to Q2 2021, driven by the growth of the policy-driven community storage market in Massachusetts.

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Download the free Executive Summary

The quarterly Full Report provides an incisive analysis of deployments, prices, and the market landscape. On top of what is included in the Executive Summary, the full reports feature the following:

• Deployments by market segment and state
• Technology trends and market share
• Front-of-the-meter system prices
• Vendor ecosystem and partnerships
• In-depth state market analysis
• Deployment forecasts by state and market

This report is also available as part of our Energy Storage Service.