INSIGHTSSERIES
Power & Utilities | Energy Storage
September 30, 2024
Energy Storage Initiatives Ramp Up to Strengthen Grid Reliability and Meet Clean Energy Targets
Ambitious goals and procurement strategies drive energy storage efforts to address renewable energy integration, grid reliability, and future electricity demand.
The push to expand energy storage capacity reflects the drive for more resilient and flexible energy systems to support the shift to clean energy. The U.S. Energy Information Administration (EIA) anticipates significant growth in…Read the full report
Key Takeaways
- Rhode Island has become the 12th state to establish an energy storage procurement target setting a goal of installing 600 MW of capacity by 2033.
- New York’s roadmap to achieve its updated energy storage goal of 6 GW by 2030 is expected to support deployments that could reduce projected future statewide electric system costs by nearly $2 billion.
- The Ontario grid operator has awarded contracts for nearly 1.8 GW of energy storage capacity concluding Canada’s single largest energy storage procurement.
