Momentum continues; Record new construction starts; FLNC+TSLA share gains
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In this note we are updating our quarterly large scale battery storage (BESS) data.
25 developers that will build 70% of capacity; FLNC has 5 of them; AES big jump this year; New developer / integrator matrix
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In this note, we break out our battery storage data, highlighting the 25 largest developers that will make up 70% of the utility-scale market in 2024.
Turning our satellites to the battery storage market; firm fundamentals with >12 GW starting this year; watching another 40 GW lining up
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After slow growth in 2022, battery storage interconnections are finally accelerating. In fact, the U.S. is on track to interconnect more than 7 GW in 2023, almost double 2022.
Publishing a new BESS under construction database
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Using our construction data as a guide, almost 70% of projects that come online over the next 18 months will likely be collocated.
Publishing BESS project detail by integrator (FLNC, Sungrow, CSI, Powin etc)
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we are anticipating the U.S. large scale BESS installations to grow to ~15-20 GW/year by 2025, up from only ~5 GW that was installed in 2022 and 9 GW total installed in the U.S. today.
Disappointing 2022 (only 5GW installed vs 7-9GW forecast)… but project pipeline surges again
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Disappointing near term installations (driven by supply chain / equipment / labor shortages), with only 5 GW installed in 2022 compared our original forecast of 7-9 GW.
Takeaways From RE+ Anaheim Conference
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As an alternative to anecdotes, imperfect surveys, and guesswork, we have created a tool called Lium solarSAT™ to better inform the market with real-time solar satellite monitoring. With this product, investors and corporate management can monitor the status of all U.S. large scale solar projects, including the day each project broke ground (firstDIRT™), timing of panel deliveries, and final completions. In this report, see findings as we update our data for August satellite imagery.
2022 Market share shifts (supplier CATL up again); BESS forecasts UNCHANGED following IRA ; FLNC estimates too high
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While costs, solar panel constraints, and stalled policy has been a headwind, deployments of battery storage facilities (BESS) have been surprisingly strong. In fact, a record 1.6 GW of BESS has been connected to the grid in just the last 3-months. This is contrary to the…
BESS deployments hit record in Q2 (1.6 GW); Standalone doesn’t get enough credit; FLNC market share
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While costs, solar panel constraints, and stalled policy has been a headwind, deployments of battery storage facilities (BESS) have been surprisingly strong. In fact, a record 1.6 GW of BESS has been connected to the grid in just the last 3-months. This is contrary to the…
Takeaways From Reuters Renewable Finance Dallas Conference
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Following two days of immersive discussion at Reuters Renewables Finance & Investment conference in Dallas (where Lium Research was invited to emcee the event and 450 market participants were present), several key themes surfaced and are summarized below.