The cost of Lithium-ion battery packs has fallen close to 90%, and rates lower than US$100/kWh have been reported for the first time, foreshadowing rapid declines across the energy storage market.
Strong deployment figures have been posted for the US’ energy storage market in both residential and non-residential segments in the past quarter, amid warnings that an escalating trade war with China could dampen some of that enthusiasm if tariffs are applied.
While energy storage system price declines have slowed down in recent times in the US, standardisation of design and engineering will be among the key drivers in bringing down balance-of-system hardware and EPC costs.
