Energy storage power station projects currently under construction

SEIA makes major solar project data available to the public through the map below. SEIA members have exclusive access to the list as a sortable, searchable MS Excel file that is. . SEIA does not guarantee that every identified project will be built. Like any other industry, market conditions may impact project economics and timelines. SEIA will remove a project if it is publicly announced that it has been canceled. SEIA actively. US developers of large-scale battery storage stations have 18.7 GW of new capacity under construction, according to S&P Global Commodity Insights Market Intelligence data, indicating another strong year for the grid's electrochemical shock absorbers. [pdf]

Taxes for new energy storage projects

The federal government provides a tax incentive, expanded by the Inflation Reduction Act, to encourage the adoption of energy storage technology. This incentive functions as a dollar-for-dollar reduction of taxes owed for a portion of the cost of an eligible energy storage system. [pdf]

FAQS about Taxes for new energy storage projects

How has the energy storage industry progressed in 2024 & 2025?

The energy storage industry has continued to progress over the course of 2024 and into 2025, buoyed in significant part by the federal income tax benefits in the form of tax credits enacted under the Inflation Reduction Act of 2022 (IRA).

Does the IRA cover energy storage projects?

According to Cavan the tax credit will now cover interconnection, microgrid controllers and a broader scope of components often used in clean energy systems. To maximize tax credits under the IRA, energy storage projects must meet two labor requirements.

Are IRA tax benefits a viable option for energy storage facilities?

While the vitality of the IRA tax benefits in their current form is currently subject to uncertainty given the results of the 2024 federal general election, the existing market practice for financing energy storage facilities since the IRA’s passage continues to evolve in reaction to the act’s new requirements and opportunities.

Are battery storage systems eligible for a tax credit?

For the first time, standalone storage systems will be eligible for a 30 percent investment tax credit (ITC) — and up to 70 percent with additional incentives. “It’s a really big deal,” said Peter Cavan, Director of Market Development for battery storage developer Convergent Energy and Power.

Do energy storage projects qualify for a new ITC?

Energy storage projects placed in service after Dec. 31, 2022, that satisfy a new domestic content requirement will be entitled to a 10% additional ITC (2% for base credit).

What are the New IRA rules for energy storage?

Energy storage was one of the major beneficiaries of the IRA’s new rules on both the deployment and manufacturing sides. The IRA enacted the long-sought investment tax credit (ITC) under Section 48 and 48E of the Internal Revenue Code (the Code) for standalone energy storage facilities.

Price Trends for Behind-the-meter Energy Storage Projects

Around the beginning of this year, BloombergNEF (BNEF) released its annual Battery Storage System Cost Survey, which found that global average turnkey energy storage system prices had fallen 40% from 2023 numbers to US$165/kWh in 2024. [pdf]

FAQS about Price Trends for Behind-the-meter Energy Storage Projects

What is a behind-the-meter battery energy storage system?

Introduction Behind-the-meter (BTM) battery energy storage systems (BESS) are undergoing the early stages of rapid, widespread deployment. An accurate understanding of their costs and benefits is relevant to analysis and decision-making in a variety of contexts, ranging from a costumer’s purchase decision to energy system modeling.

What is behind the Meter (BTM)?

Are you interested in exploring our consulting services? Behind-the-meter (BTM) refers to energy generation, storage, and management systems located on the customer's side of the electricity meter, enabling distributed energy generation, storage, and management.

How much is the global behind - the - meter market worth?

Answer: The Global Behind - the - Meter Market was accounted for 5.65 Billion in the year 2023. 2) Which end use segment is dominating the Global Behind - the - Meter Market? Answer: Residential sector is the dominating end use segment in the market. 3) What are the key players in the Global Behind - the - Meter Market?

Are energy storage technologies affecting grid stability?

Innovations in energy storage technologies, particularly with lithium-ion and sodium-ion batteries, have substantially reduced costs. Current market conditions, shaped by supply chain dynamics and governmental policies such as the Inflation Reduction Act, highlight the growing demand for grid stability.

Will a 60% tariff increase energy storage costs?

“What we found is that with the 60% tariff, the cost [of a turnkey energy storage system] increases by 60% compared to 2025, so this is quite a big cost jump if the US actually decided to do so,” Kikuma says.

What is NREL's behind-the-meter storage analysis research?

NREL's behind-the-meter storage analysis research focuses on technologies that minimize the costs and grid impacts of electrification for consumers by balancing peak energy demands, integrating EV chargers, and generating electricity on-site. Photo by Werner Slocum, NREL