The U.S. energy storage industry installed a total of 8.7 GW across all sectors, marking a 90% year-over-year increase. In Q4 2023 alone, 4.2 GW were deployed, with California and Texas making up 77% of those installations, according to Wood Mackenzie.
The heat waves experienced in Texas and California this year have shown that implementing solar energy and storage solutions can alleviate pressure from overburdened electric grids. This summer specifically offered a perfect example of this method working successfully, as an article by Canary Media beautifully details solar storage’s significance in such circumstances.
August 20 was one of Texas’ hottest recorded days this summer, and the Electric Reliability Council of Texas, or ERCOT, set a new record for peak demand at 85,931 megawatts. Fortunately for the 22 million power customers reliant on ERCOT’s grid, solar power generation also hit a near-record level of 20,799 MW (24% of demand) on this date. Solar power managed to match the incredible demand with its impressive supply throughout the midday hours — and because solar is the cheapest source of electricity on the grid today, wholesale electricity prices remained low.
We at SDG are particularly excited about the CCI segment, as there is so much more growth to be had! 123 MW / 338 MWh in CCI is nothing compared to the size of the grid-scale segment measured at 7910 MW / 24000 MWh. With this, we aim to continue working with our EPC partners to implement even more solar and energy storage projects nationwide in the years to come. To read more on the impressive growth of solar storage, check out the link below, and please feel free to DM us to discuss our solution offerings and financing (for both solar + storage) for your commercial sites.
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