Community, commercial, and industrial (CCI) installations, at 107 MWh, were higher than any quarter in 2022 but could not keep pace with the huge spike in Q1 installations, resulting in a 53% quarterly decline. However, the segment is still up 25% year-over-year.
Residential storage recorded its second-straight quarter of decline at 381.2 MWh, behind Q1’s 388.2 MWh. California has seen the biggest decline, decreasing 17% quarter-over-quarter and 37% year-over-year.
“We still project strong growth for the residential segment in our five-year outlook, reaching a total of 8.0 GW in 2027,” Witte said. “However, the CCI segment continues to fail to meet growth projections and we have downgraded its five-year growth forecast by 28% to 3 GW.”
News item from WoodMac
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