Evaluation of Energy Storage Benefits in Maryland

American Clean Power Association
Project completed April 2023.

Synapse was hired by the American Clean Power Association to understand the potential benefits of procuring increased amounts of energy storage resources as an alternative to gas-fired capacity in Maryland over the next decade. Synapse conducted a rigorous, independent analysis of Maryland’s electric power sector, accounting for market dynamics in PJM and the incentives related to the recently passed Inflation Reduction Act of 2022 (IRA). Using a state-of-the-art electric sector model, we examined Maryland’s electric system at a detailed level from 2023 through 2033 under two different futures: one of which continued to rely on fossil-fuel resources and one of which expanded the state’s portfolio of renewables and storage resources.

Our modeling results showed that Maryland can cost-effectively build more than 3,500 megawatts of energy storage by 2033 and deliver Maryland ratepayers as much as $100 million in savings annually. The report also demonstrates that additional energy storage in Maryland supports grid reliability and can help achieve emissions reductions of 93 percent below 2023 levels over the next 10 years.