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25 GW of energy storage forecasted through 2023

Grid-scale energy storage developers overcame supply chain headaches and project delays to deploy a record 3 GW in 2021, according to analysis by S&P Global Market Intelligence. Even as deployments in 2021 eclipsed capacity added in any other year, developers had hoped to add 5 GW. Cumulative nonhydroelectric storage capacity reached 5,410 MW at the end of 2021.  The energy […]
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Grid-scale energy storage developers overcame supply chain headaches and project delays to deploy a record 3 GW in 2021, according to analysis by S&P Global Market Intelligence.

Even as deployments in 2021 eclipsed capacity added in any other year, developers had hoped to add 5 GW. Cumulative nonhydroelectric storage capacity reached 5,410 MW at the end of 2021. 

The energy storage market's perseverance looks to continue with 25 GW of grid-scale storage planned through 2023 -- 60% of which is expected to be co-located with other power plants.

The largest energy storage project completed in 2021, according to S&P, was Florida Power & Light's 409 MW/900 MWh Manatee Energy Storage Center.

California and Texas continue to lead energy storage deployment with a combined 3 GW of operating capacity at the end of 2021.

Rapid energy storage deployment is critical for an electric grid, and country, that aims to rely heavily on renewable energy sources like wind and solar in the coming decades. Most of the energy storage deployed in 2021 came in the form of lithium-ion batteries, which typically provide 2-to-4 hours of storage.

During a summit on the state of the U.S. energy storage industry, Energy Secretary Jennifer Granholm said the urgent need for storage has been heightened has by Russia's invasion of Ukraine and the subsequent turbulence in fossil energy markets.

"With that as a backdrop, I just know there is a huge opportunity here," Granholm said.

The U.S. energy storage supply chain remains vulnerable, though, because three or fewer countries control more than half of the mine production needed for lithium-ion batteries. Demand for batteries by the electric vehicle industry is also straining supply chains.

The U.S. energy storage supply chain, specifically for lithium-ion batteries, is at a "significant disadvantage" when compared to China, and the rest of Asia and Europe, in some cases, according to a report issued by the Dept. of Energy on the state of clean energy supply chains.

DOE recommended that the U.S. focus on the development of sustainable upstream, midstream, and recycling facilities to support grid storage, as well as the development of an industry for end-of-life batteries to be used for grid storage. The report also recommended the development and deployment of diverse long-duration energy storage applications.

DOE issued two notices of intent on Feb. 11 to provide $3 billion in Bipartisan Infrastructure Law funds to boost domestic battery production and help establish a domestic supply chain. The effort aims to support burgeoning markets for electric vehicle batteries and grid storage.

The funds are expected to be available "in the coming months," according to DOE.

DOE also requested information on Feb. 14 regarding the design, construction, and operation of a new demonstration facility for full-scale rare earth element and critical minerals extraction and refining. The Bipartisan Infrastructure Law dedicated $140 million to what the DOE calls a "first-of-a-kind" facility.

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