SELBYVILLE, Del. - The U.S. energy storage market will exceed $4 billion by 2024, as reported in the latest study by Global Market Insights Inc. A growing regulatory focus toward minimizing carbon emissions while increasing the share of renewables on the grid will drive the U.S. energy storage market size. Key states, including California, Massachusetts, New York, and Oregon, have adopted legally defined energy storage capacities to be integrated into the electric grid. In December 2017, the New York government introduced a new law mandating a statewide energy storage deployment target of 1,500 MW by 2025.
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