EIA predicts U.S. battery storage capacity could nearly double in 2024

The battery storage industry continues to make significant gains in the United States, with the Energy Information Administration (EIA) this week stating it expects storage capacity to nearly double to more than 30 gigawatts (GW) by the end of 2024. 

Developers have announced more than 300 utility-scale battery storage projects slated to enter service by 2025. Texas will account for about half of that, but California will join it on the list of top biggest deployments to come. None of the new deployments will top the largest current storage facility in the United States: the 750 megawatt (MW) Dynegy Moss Landing Energy Storage Facility in California, which is owned by Vistra. Still, the largest, the Lunis Creek BESS SLF facility in Texas, will feature 621 MW of battery storage.

Storage capacity has experienced rapid growth since 2021, and if its current course holds, the EIA noted that capacity would exceed those of petroleum liquids, geothermal, wood and wood waste, or landfill gas. At this point, California has the largest capacity, with 7.3 GW, followed by Texas with 3.2 GW. They also both host growing wind and solar generating fleets. 

All other states combined have a total of approximately 3.5 GW of installed battery storage capacity. At the end of 2023, planned and operational utility-scale battery capacity totaled around 16 GW nationwide.