What is the trend of energy storage technology in the united states

Here are some trends in energy storage technology in the United States:The U.S. energy storage market is projected to grow from USD 106.7 billion in 2024 to USD 1.49 trillion by 2034, with a CAGR of 29.1%1.Batteries and pumped hydro are the primary storage technologies currently in use2.Storage deployment is expected to grow by 25% in 2025, indicating a strong upward trend3.As coal plants retire, energy storage will play a crucial role in providing balancing services to maintain grid reliability4.The market set a record in 2024 with 12.3 GW of installations, reflecting significant growth in energy storage capacity5. The U.S. energy storage market was estimated at USD 106.7 billion in 2024 and is expected to reach USD 1.49 trillion by 2034, growing at a CAGR of 29.1% from 2025 to 2034, driven by increased renewable energy integration and grid modernization efforts. Batteries and pumped hydro are the main storage technologies in use in the U.S., according to the number of storage projects in the country in 2023. Discover all statistics and data on. Storage deployment in the United States grew across all segments and is forecast to grow another 25% in 2025, according to Wood Mackenzie. As coal plants and other large generators become uneconomical and retire, balancing services from energy storage will become more important to maintain reliability of the electric grid. As of February 2025, utilities had active or pending procurements for energy storage assets operating in states. The U.S. energy storage market set a new record in 2024 with 12.3 GW of installations across all segments, according to the latest “ U.S. Energy Storage Monitor ” report released by the American Clean Power Association (ACP) and Wood Mackenzie. The report shows a total of 12,314 MW and 37,143 MWh.