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U.S. Battery-Storage Developers Await $2.8 Billion in 2Q Kickoffs

U.S. Battery-Storage Developers Await $2.8 Billion in 2Q Kickoffs

Attachment: US BESS 2Q23

March 15, 2023--Researched by Industrial Info Resources (Sugar Land, Texas)--Utility-scale battery-storage capacity across the U.S. is expected to increase significantly over the next three years, reaching 30 gigawatts (GW) by the end of 2025, according to the U.S. Energy Information Administration (EIA). The remarkable growth of battery energy-storage systems (BESS) is fueled by their frequent pairing with solar- and wind-energy facilities, for which they store extra energy to be used when wind and solar sources are weak.

Industrial Info is tracking about $2.8 billion worth of active BESS projects across the U.S. that are set to begin construction in the second quarter, which Industrial Info's researchers believe have a medium-to-high likelihood (70% or more) of beginning as planned. One of the highest-valued BESS projects set to begin construction next quarter is Tesla Incorporated's (NASDAQ:TSLA) BESS unit for its Cybertruck Gigafactory in Texas. Other companies pursuing BESS projects include EDF Renewable Energy, a subsidiary of Electricite de France S.A.; NextEra Energy Incorporated (NYSE:NEE); Macquarie Group Limited and Invenergy LLC.