National energy storage battery quote

Are battery storage costs based on long-term planning models?

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.

Where can I find a report on battery storage costs?

This report is available at no cost from the National Renewable Energy Laboratory at www.nrel.gov/publications. Figure 4. Current battery storage costs from studies published in 2018 or later. The NREL value (Feldman et al. Forthcoming) was selected as the 2019 starting cost for this work.

Does battery storage cost reduce over time?

The projections are developed from an analysis of recent publications that consider utility-scale storage costs. The suite of publications demonstrates wide variation in projected cost reductions for battery storage over time.

Is the starting value of a battery storage system reasonable?

This comparison increases our confidence that the starting value we have selected is reasonable, although it does demonstrate that there is considerable uncertainty (±$100/kWh) in the current price of battery storage systems. 0 100 200 300 400 500 600 700 800 2015 2020 2025 2030 2035 2040 2045 2050 4- hour Battery Capital Cost ($/kWh) High Mid Low

How do you calculate battery storage costs?

To convert these normalized low, mid, and high projections into cost values, the normalized values were multiplied by the 4-hour battery storage cost from Feldman et al. (2021) to produce 4-hour battery systems costs.

Do battery storage technologies use financial assumptions?

The battery storage technologies do not calculate levelized cost of energy (LCOE) or levelized cost of storage (LCOS) and so do not use financial assumptions. Therefore, all parameters are the same for the research and development (R&D) and Markets & Policies Financials cases.