U.S. BESS Market to See More than $4 Billion in 1Q Kickoffs

January 9, 2024--Researched by Industrial Info Resources (Sugar Land, Texas)--The demand for battery energy-storage systems (BESS) across the U.S. could increase more than sixfold by 2030, according to a report from the Solar Energy Industries Association (SEIA), from 18 to 119 gigawatt-hours (GWh). The SEIA warns that the domestic manufacturing of BESS components threatens to lag project development, which could drive prices for materials even higher and stall some projects currently in their planning phases.

Industrial Info is tracking more than $4 billion worth of active and planned BESS projects across the U.S. that are set to begin construction before the end of March, more than half of which is attributed to grassroot projects.

With its long and lofty list of climate goals, California leads the U.S. in BESS additions by a country mile. Texas is in second place with about 9 GW installed at the end of 2022, according to the EIA. But some analysts are warning that Texas may be headed for a "battery bubble."

Companies featured: Vesper Energy, Atlantica Yield plc (NASDAQ:AY), Apex Clean Energy Incorporated and Duke Energy Corporation (NYSE:DUK).