Evaluating energy storage tech revenue potential
While energy storage is already being deployed to support grids across major power markets, new McKinsey analysis suggests
While energy storage is already being deployed to support grids across major power markets, new McKinsey analysis suggests investors often underestimate the value of energy storage in their business cases.
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 IRA. Energy storage was one of the major beneficiaries of the IRA's new rules on both the deployment and manufacturing sides.
With developers continuing to add new capacity, including 9.2 GW of new lithium-ion battery storage capacity in 2024 through November 2024 and comparable levels of growth expected through the fourth quarter of 2024, energy storage investments and M&A activity are expected to continue this trajectory through 2025.
On average, battery storage systems generated almost €12,900 per megawatt per month in the last twelve months, amounting to approximately €155,000 per megawatt annually. In line with the historical methodology, the Enervis Battery Storage Index also provides a forward-looking view of revenue expectations for the current year.
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