The US energy storage market reached a new record in 2024, with 12.3 GW of energy storage capacity added across all segments, according to the US Energy Storage Monitor report by the American Clean Power Association (ACP) and Wood Mackenzie. The total installed capacity was 12,314 MW and the storage capacity was 37,143 MWh, up 33% and 34% compared to 2023. The market growth is accompanied by significant investment in the sector, which is driving the expansion of both large-scale projects and small-scale installations.

Unlike the US Energy Information Administration (EIA) report, which only takes into account large-scale installations over 1 MW (10.4 GW in 2024), the ACP and Wood Mackenzie report also includes small-scale installations, providing a more complete picture of the market. Investment in the sector continues to grow, which is reflected in the forecasts for 2025: ACP and Wood Mackenzie expect 15 GW of new ESS, including 13.3 GW of large-scale storage. EIA, in turn, forecasts 18.2 GW of large-scale ESS, which indicates high activity in this segment.

China, however, remains the largest player in the energy storage market. In 2024, China added more than 42 GW of ESS, which is more than three times more than the US. By the end of 2024, the installed capacity of energy storage systems in China exceeded 74 GW. This was made possible by large-scale investments in infrastructure and government support.

Thus, the energy storage market in the US shows steady growth, supported by significant investments, but in terms of capacity additions, it is inferior to China, where investments in the sector also continue to increase.