Latest power storage policy

4 FAQs about Latest power storage policy

What is a storage policy?

All of the states with a storage policy in place have a renewable portfolio standard or a nonbinding renewable energy goal. Regulatory changes can broaden competitive access to storage such as by updating resource planning requirements or permitting storage through rate proceedings.

Are policy changes threatening the storage industry?

“However, the industry stands at a crossroads, with potential policy changes threatening to disrupt this momentum.” In the near term, the report expects 15 GW/49 GWh of new storage capacity to be installed across all segments in 2025, with utility-scale installations projected to grow 22% year-over-year.

Will changes to federal policy slash future storage growth?

The five-year forecast for utility-scale storage remains solid, but looming changes to federal policy could slash future growth. If proposed changes to the Investment Tax Credit (ITC) in the House's reconciliation bill become law, the total storage buildout over five years could fall 27% below the current base case.

Why is Energy Storage Resource Development important?

Energy storage resource development will continue to grow across the United States as an important tool to enhance grid reliability and stability as intermittent renewable generating resources account for a larger share of generation resources.