
The US energy storage market is growing rapidly due to recent policy changes. The Inflation Reduction Act, which was passed in August 2022, is providing more than $369 billion in funding for clean technologies. The act is allocating large volumes of funds to wind, solar and storage tax credits. According to the latest forecast from BloombergNEF (BNEF), energy storage installations around the world are projected to reach a cumulative 411 gigawatts by the end of 2030.1