Grid Storage Batteries Getting Cheaper

Lithium-ion and molten-salt battery costs will approach $500/kWh by 2022, reducing the high capital cost of emerging grid energy storage technologies. However, expectations of half that level will remain unrealistic for at least a decade, according to Lux Research.

Technology developers make bold claims about performance enhancements and economies of scale that will lead to dramatic cost reductions. Lux Research’s baseline scenarios for grid-tied systems indicate that by 2022 Li-ion batteries will reach $506/kWh; sodium nickel chloride, or ZEBRA, batteries will approach $473/kWh; and vanadium redox flow batteries will hit $783/kWh.

To gain an understanding of the key cost components for each technology, Lux Research analysts built production cost models of Li-ion, ZEBRA, and VRFB systems for small- to large-scale grid storage systems, and assessed drivers that will facilitate cost reduction and constraints to innovative material and manufacturing approaches.

Source and Read More 

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.

LATEST ARTICLES

Future energy predictions: Growth of flexibility and grid forming

  It is well known that COVID-19 has caused low energy demand and the growth of renewable energy across Europe. Now, Andrew Tang, Vice President for Energy Storage at Wärtsilä, predicts this will result in swift action to build better grid resiliency. The share of renewable power across Europe has skyrocketed over the last six…

Read More

Energy Storage Systems: the role of an Integrator

Simplifying BESS deployments by mastering their associated risks With the introduction of Battery Energy Storage Systems ‘BESS’, a new role has been created on the value chain. It is the role of a BESS integrator. The role of an integrator can be misunderstood at times or blended with other roles at other times. This is…

Read More

★REVIEWS

“Probably the most interactive and well organized storage event on the calendar.”

★★★★★

Sales Director, S&C

“Great topics, competent speakers, good networking: keep it like that.”

★★★★★

TLC & SCADA Manager, FRI-EL

“High scientific content, well targeted, perfect organization.”

★★★★★

Expert Technical & Governance, Elia

Excellent networking event. The sponsorship was well worth it.”

★★★★★

Manager, ATL

View More

x