Aging Grids and Clean Energy Push Drive Storage Surge in North America

Canadian Solar Inc. (CSIQ) has secured a significant contract to deliver a 411 MW/1,858 MWh energy storage solution for the Skyview 2 project in Ontario, Canada, signaling continued momentum in the North American energy storage market according to the report. The project, developed in partnership with Potentia Renewables and the Algonquins of Pikwàkanagàn First Nation, will utilize Canadian Solar's SolBank 3.0 technology and includes a 21-year service agreement to ensure long-term reliability as the report indicates. This move aligns with broader industry trends, as aging grid infrastructure and rising clean energy adoption drive demand for storage solutions. A Global Market Insights report projects the North American energy storage market to grow at a 16.1% CAGR from 2024 to 2032.

Canadian Solar's pipeline underscores its expansion strategy. As of September 30, 2025, the company reported 5,600 megawatt-peak of solar projects and 24,332 MWh of battery storage in development across North America. This growth is mirrored by peers such as SolarEdge Technologies (SEDG) and Enphase Energy (ENPH). SolarEdge recently surpassed 500 MWh of residential battery storage enrolled in virtual power plant programs, while Enphase deployed over 6.5 million microinverters and 50 MWh of battery storage in the U.S. in 2025. Analysts anticipate strong revenue growth for both firms, with Zacks forecasts predicting 25.4% and 9.4% increases for SolarEdge and Enphase in 2025, respectively.

The solar-plus-storage sector is also attracting attention in alternative investment vehicles. VanEck's Solana ETF (VSOL), tracking the sixth-largest cryptocurrency by market value, began trading in November 2025, joining a wave of altcoin-focused funds. Meanwhile, Grayscale's Dogecoin Trust (DOGE) is poised for a debut, reflecting growing institutional interest in digital assets. These developments highlight a broader trend of diversification in energy and technology markets, even as crypto prices face short-term volatility as reported.

Canadian Solar's stock has surged 167.7% over the past six months, outpacing the industry's 33.9% gain, and holds a Zacks Rank 2 (Buy) according to the report. The company's strategic focus on storage and solar projects positions it to capitalize on North America's transition to renewable energy, with competitors like Emeren Group Ltd (SOL) also expanding their portfolios in high-demand markets such as California and New York as industry analysis shows.