The US utility-scale energy storage market is projected to maintain its position as the world’s largest and fastest-growing in the coming years, according to a new report from Guidehouse Insights.
Coal retirements, liberalised energy markets and declining costs continue to improve the business case for energy storage in Australia, but the coronavirus pandemic is among factors creating uncertainties and risks, new research has found.
Industry commentators have expressed shock and surprise that NEC Corporation’s Energy Solutions business has been wound down, while an analyst said the reasons for the energy storage system integrator’s demise are likely to go back further than the COVID-19 pandemic.
Lithium-ion cell prices will fall by around 46% between now and 2029, according to new analysis from Guidehouse Insights, reaching US$66.6 per kWh by that time.
Analysis firm Wood Mackenzie has held onto its forecast that the US will deploy around 7GW of energy storage annually by 2025 and found that 97.5MW / 208MWh of storage was installed during the first quarter of this year.
The business case for behind-the-meter (BTM) battery storage in Australia appears to be positive, according to a University of Queensland report on the performance of a 1.1MW / 2.15MWh Tesla battery energy storage system (BESS).
There are 1.3GW of read-to-build battery storage projects in the UK, with the majority between 30MW and 49.9MW power output per project, according to new analysis from Solar Media Market Research.
The cost of battery energy storage has continued on its trajectory downwards and now stands at US$150 per megawatt-hour for battery storage with four hours’ discharge duration, making it more and more competitive with fossil fuels. Andy Colthorpe spoke to Tifenn Brandily, lead author of BloombergNEF’s latest LCOE report.
The levelised cost of electricity (LCOE) that can be achieved today for battery energy storage means that “new-build batteries can be competitive on cost with gas peaker plants,” according to BloombergNEF.
