Residential and Retail Storage Incentives
For battery storage systems above five MW of AC power, projects could be eligible for incentives through the Bulk Energy Storage Program. Additional details on both the Residential and
Residential battery storage saw its strongest year ever, installing over 1,250 MW in 2024, a 57% increase from the previous year. The last quarter alone saw a record-breaking 380 MW added, a 6% bump compared to Q3. The community-scale, commercial, and industrial (CCI) market also had a strong year, growing 22% year-over-year with 145 MW installed.
In total, 12,314 megawatts (MW) and 37,143 megawatt-hours (MWh) of energy storage were added, marking a jump of 33% and 34%, respectively, compared to 2023.
The law requires that 3,500 MW be mid-duration energy storage, 750 MW be long-duration, and, if commercially available at a reasonable cost, 750 MW should be multi-day energy storage. Virginia's target was enacted by law in 2020, which set a 3,100 MW energy storage goal by 2035.
Energy storage systems (ESS) for the home store electricity for later use, typically using batteries like lithium-ion or lithium iron phosphate.
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