New Powers Are Rising Among the Ranks of the Biggest Battery Owners
The front-of-the-meter battery market has always been a lumpy thing — huge quarters followed by tumbleweeds. But lately, it’s moving head-spinningly fast.
The Storage Plus series on the biggest U.S. grid battery owners captured the leaderboard at a fixed point in time. That ranking has already shifted since the beginning of June. Private equity firm LS Power recently activated 62.5 megawatts of battery power at its Gateway Facility. Combined with its 40-megawatt Vista project, that catapults LS into the top five asset owners. But those rankings will shuffle again, as LS Power plans to scale Gateway to 250 megawatts in the coming months.
And Gateway’s own grasp on the title of most powerful U.S. battery will prove short-lived as even bigger projects head toward completion this year.
“This is a belt that I think is going to be passed from project to project pretty rapidly over the next few years,” said Daniel Finn-Foley, head of energy storage research at Wood Mackenzie.