Arizona's Brutal Summer Spurs Demand for Battery Storage

October 10, 2023--Researched by Industrial Info Resources (Sugar Land, Texas)--Temperatures may have cooled across the U.S. Southwest, but Arizona likely won't forget its scorching summer, which made even its iconic saguaro cacti seem to throw up their arms in exasperation (and thirst). The record-setting heat wave may have encouraged innovation in the Grand Canyon State's energy market, which, like Texas, depended heavily on battery energy-storage system (BESS) facilities to keep the lights on.

Industrial Info is tracking more than $6.8 billion worth of active and planned BESS projects across Arizona, the bulk of which are in the southern half of the state. Many of the BESS projects are in or around Phoenix, which saw its hottest three months since record-keeping began in 1895. These include two of the highest-valued projects, from Strata Clean Energy LLC and Plus Power.

Other companies featured: Tesla Incorporated (NASDAQ:TSLA), Pinnacle West Capital Corporation (NYSE:PNW), Salt River Project, NextEra Energy Incorporated (NYSE:NEE) and Hanwha Group.