US battery manufacturing ‘could cover domestic BESS demand within a few years’

AI Summary

• •US domestic battery manufacturing is projected to meet domestic BESS demand within a few years, potentially eliminating the need for foreign (e.g., Chinese) imports.
• •This shift implies a more secure and potentially more cost-effective supply chain for battery energy storage systems for US developers and large power consumers.
• •The underlying drivers for this rapid domestic capacity build-out are likely policy incentives such as the IRA.
• •For developers and large loads, this means reduced geopolitical supply chain risk and potentially improved project economics and timelines for BESS deployments.