Behind-the-meter energy storage is here and two other takeaways from GTM’s Storage Monitor
Behind-the-meter energy storage in the U.S. has some legit momentum right now, judging by the Q2 2018 Energy Storage Monitor put out by GTM Research and the Energy Storage Association.
1. From Q1 to Q2 this year, the entire U.S. storage market grew by 42 percent, hitting 61.8 MW. Year over year, that’s an increase of 60 percent, which is important to note because Q2 2017 was a solid quarter for BTM storage capacity added. The difference in a year is the rise of residential storage (noted in the dark blue in the graph below.)
2. In MWh, the storage market grew 200 percent year over year, with behind the meter deployments accounting for almost two-thirds of the total in Q2 2018.
3. Going forward, GTM sees big things (almost 1 GW market in 2019, and 2 GW in 2020), but there is a slight hiccup because lithium-ion battery prices did not drop as much as expected because of battery cell shortages. Once production capacity on that side catches up, the steep rates of 15 percent price declines or more per year should continue.
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