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LS Power’s Rev launch signals take-off for US storage market

US market set for rapid growth, with both standalone and coupled storage projects gaining traction

The launch of new company Rev Renewables by US power developer LS Power, which has the largest power storage portfolio in the US, comes as the country's storage market starts to see accelerating growth. Planned US power storage capacity is due to grow sevenfold by the end of 2024, rising to 12GW compared with 1.65GW at the start of 2021, according to a recent report from the EIA. That would mark a compound annual growth rate of 93.75pc in just three years compared with just 35pc growth in 2020. “A big part of Rev is going after that opportunity,” says Cody Hill, senior vice president of battery systems at the company. California alone now has more than 1GW of storage online compared with j

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