U.S. natural gas storage capacity increased in 2024
Underground working natural gas storage capacity in the Lower 48 states increased in 2024 according to our latest data. We calculate natural gas storage capacity in two ways: demonstrated peak capacity and working gas design capacity. Both increased in 2024. Underground natural gas storage provides a source of energy when demand increases, balancing U.S. energy needs. In 2024, demonstrated peak capacity rose 1.7%, or 70 billion cubic feet (Bcf), to 4,277 Bcf, while working gas design capacity increased slightly by 0.1%, or 3 Bcf.
U.S. propane exports have increased every year since 2007
U.S. propane exports averaged a record 1.8 million barrels per day (b/d) in 2024, the most since we began collecting this data in 1973. U.S. propane exports increased for each of the last 17 years, with growth driven by higher demand in East Asia, mainly China, and a widening propane price differential between U.S. and global benchmarks.
U.S. battery capacity increased 66% in 2024
In the United States, cumulative utility–scale battery storage capacity exceeded 26 gigawatts (GW) in 2024, according to our January 2025 Preliminary Monthly Electric Generator Inventory. Generators added 10.4 GW of new battery storage capacity in 2024, the second–largest generating capacity addition after solar. Even though battery storage capacity is growing fast, in 2024 it was only 2% of the 1,230 GW of utility–scale electricity generating capacity in the United States.
Residential energy expenditures have increased with colder weather and higher prices
Residential energy expenditures for homes heating with natural gas and propane for the current winter (November through March) have grown, and now we expect them to total 10% more than last winter. In our initial Winter Fuels Outlook forecasts published in October 2024, we had expected that homes mainly heating with natural gas would spend between 2% less or 7% more this winter than last, depending on weather conditions. As the winter has progressed and energy prices and consumption have increased beyond our initial expectations, we have revised these forecasts upward.