US energy storage market sees explosive growth in installed capacity

According to a report by Wood Mackenzie, the installed capacity of energy storage power stations in the United States increased by more than 100% year-on-year to 4.2GW/12.4GWh in the fourth quarter of 2023. California and Texas accounted for 77% of the new installations, which was mainly due to the low-price competition strategy and sufficient supply of Chinese OEMs, which contributed to the prosperity of the energy storage installation market.