According to Lazard’s annual benchmarking report, the levelised cost of storage (LCOS) of utility-scale battery energy storage systems (BESS) in the US has risen, reversing declines reported in the 2025 edition.

LCOS for battery storage in the US has declined enough recently to offset increases between 2021 and 2024, according to Lazard.

The latest episode of the Solar Media Podcast is out now, as Andy Colthorpe and Liam Stoker unpick the fallout from a dramatic US election.

While decreases in costs continue to make energy storage more and more competitive, financial advisory and asset management firm Lazard has highlighted just how variable project economics can be, citing examples of US projects with 9%, 11% and 21% IRR (internal rate of return).

The cost of energy storage technologies is set to reduce significantly over the next five years driven by economies of scale and improvements in both technology and standardisation, according to a new report from financial advisory and asset management firm Lazard.