Battery storage costs have evolved rapidly over the past several years, necessitating an update to storage cost projections used in long-term planning models and other activities. This work documents the development of these projections, which are based on recent publications of storage costs.
The projections are developed from an analysis of recent publications that include utility-scale storage costs. The suite of publications demonstrates wide variation in projected cost reductions for battery storage over time.
Battery cost projections for 4-hour lithium-ion systems, with values relative to 2024. The high, mid, and low cost projections developed in this work are shown as bold lines. Published projections are shown as gray lines. Figure values are included in the Appendix.
As expected, on a $/kWh basis, longer duration batteries have a lower capital cost, and on a $/kW basis, shorter duration batteries have a lower capital cost. Figure 7 also demonstrates why it is critical to cite the duration whenever providing a capital cost in $/kWh or $/kW. Figure 7.
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Executive Summary In this work we describe the development of cost and performance projections for utility-scale lithium-ion battery systems, with a focus on 4-hour …
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Ember''s report outlines how falling battery capital expenditures and improved performance metrics have lowered the levelized cost of …
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Battery storage costs have fallen to $65/MWh, making solar plus storage economically viable for reliable, dispatchable clean power.
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