A surge in energy storage across North America is being fueled by aging power grids and a growing emphasis on clean energy.

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Bitget-RWA2025/11/18 03:08

By:Bitget-RWA

- Canadian Solar secures 411 MW/1,858 MWh storage contract for Ontario's Skyview 2 project with Potentia and Algonquins First Nation, using SolBank 3.0 and 21-year service agreement. - North American energy storage market projected to grow at 16.1% CAGR through 2032, driven by aging grids and clean energy adoption, with Canadian Solar's 24,332 MWh pipeline reflecting industry expansion. - SolarEdge and Enphase expand storage capacities (500 MWh and 50 MWh respectively), with Zacks forecasting 25.4% and 9.4

Canadian Solar Inc. (CSIQ) has landed a major deal to provide a 411 MW/1,858 MWh energy storage system for the Skyview 2 project in Ontario, Canada, marking ongoing growth in the North American energy storage sector

the report states

. The initiative, a collaboration with Potentia Renewables and the Algonquins of Pikwàkanagàn First Nation, will feature Canadian Solar's SolBank 3.0 platform and is backed by a 21-year service contract to maintain long-term dependability

as noted in the report

. This development reflects wider market shifts, as outdated grid systems and the increasing adoption of clean energy boost the need for storage technologies.

According to a Global Market Insights study

the North American energy storage sector is expected to expand at a 16.1% compound annual growth rate from 2024 to 2032.

A surge in energy storage across North America is being fueled by aging power grids and a growing emphasis on clean energy. image 0

Canadian Solar’s project pipeline highlights its growth ambitions. By September 30, 2025,

the company disclosed

5,600 megawatt-peak of solar initiatives and 24,332 MWh of battery storage under development throughout North America. This upward trend is echoed by industry peers such as

SolarEdge Technologies

(SEDG) and

Enphase Energy

(ENPH).

SolarEdge has recently exceeded

500 MWh of residential battery storage enrolled in virtual power plant initiatives, while

Enphase

rolled out more than 6.5 million microinverters and 50 MWh of battery storage in the U.S. during 2025.

Market experts expect robust revenue increases

for both companies, with Zacks projecting 25.4% and 9.4% growth for

SolarEdge

and Enphase in 2025, respectively.

The solar-plus-storage industry is also drawing interest from alternative investment products.

VanEck’s Solana ETF

(VSOL), which tracks the sixth-largest cryptocurrency by market capitalization, launched trading in November 2025, joining a surge of altcoin-oriented funds. At the same time, Grayscale’s Dogecoin Trust (DOGE) is preparing to launch,

signaling rising institutional appetite

for digital assets. These trends underscore a broader move toward diversification in both the energy and technology sectors, despite short-term fluctuations in cryptocurrency values

as highlighted in reports

Canadian Solar’s shares have climbed 167.7% in the last six months, far surpassing the industry’s 33.9% rise, and currently hold a Zacks Rank 2 (Buy)

the report notes

. The company’s strategic emphasis on storage and solar projects positions it to benefit from North America’s shift toward renewables, with rivals like Emeren Group Ltd (SOL) also growing their presence in high-demand states such as California and New York

according to industry research

Disclaimer: The content of this article solely reflects the author's opinion and does not represent the platform in any capacity. This article is not intended to serve as a reference for making investment decisions.

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