All Eyes On Battery Storage Grid Parity
The spotlight is now on battery storage and its potential for achieving what rooftop solar has done so far.
The past years saw the growing number of residential and commercial consumers who have turned to rooftop solar systems in Germany. These consumers are now reaping the benefits as prices of power from solar versus that from the grid have become cheaper.
While some experts have cast their doubts on battery storage reaching grid parity, there are others who strongly believe that this may be true in six years or less.
Morgans, an Australian investment group cited that German households relying on the grid pay around €0.30 per kwh. Meanwhile, households hooked on solar power systems are currently spending around €0.15 per kwh thereby cutting down costs by half.
The substantial savings can be attributed to the German government’s serious efforts towards promoting solar PV and renewables in the country. It has even gone to the extent of subsidizing energy storage costs by up to €3,000.
Data from German Trade and Invest somehow supports the contention on grid parity as current trends in power rate seem to lead to this. Cost of electricity is going up while that of solar PV is declining. Should battery storage costs go down to US $0.27 per kwh or €0.20 per kwh, the countdown to grid parity may one day be over.
If you want to know more about this and other topics directly from end users of energy storage technologies join us at one of these annual events: The Energy Storage World Forum (Grid Scale Applications), or The Residential Energy Storage Forum, or one of our Training Courses.