Energy storage procurement contracts must also take into account the ever-evolving suite of laws and regulations applicable to energy storage projects, including as a result of the recent change in administration in the United States.
Another year of growth in the utility-scale storage market also marked a second consecutive year of record lows in the installed cost of lithium-ion batteries. However, trade actions and changes to tax policy have the potential to increase costs and dampen short-term growth.
Approximately 11.9 gigawatts (GW) of storage was deployed in 2024. In only the third quarter of 2024, and despite mounting concerns over potential trade and policy developments, the US storage market added a record-setting 3.8 GW of energy storage—an 80% increase compared to the prior year.
There are primarily three types of agreements relevant to battery procurements: (1) purchase agreements, (2) master supply agreements (MSAs), and (3) capacity reservation agreements (CRAs).
Our solar power systems and energy storage products are engineered for reliability, safety, and efficient deployment. All systems include comprehensive monitoring and control systems with remote management capabilities.
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