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.

Over 9,000MWh of battery energy storage could be deployed in Britain over the next five years as the sector enjoys a trend towards “explosive growth”, a market analyst has said.

The rise of energy storage will enjoy a similarly meteoric trajectory to that enjoyed by solar PV deployment in the past and could reach 305GWh of installations by 2030, BNEF has predicted.

A new report from the US National Renewable Energy Laboratory (NREL) aims to track cost trends in residential PV-plus-storage, help stakeholders to identify potential cost-reduction opportunities and illuminate barriers that exist to the technology’s widespread deployment.

The UK has a pipeline of 2.3GW of commercial and industrial (C&I) and utility scale battery-based energy storage projects, with many developers already looking to ‘stack’ revenues through providing multiple services, a new report has found.

The cost of lithium-ion batteries for energy storage declined 65% in five years between 2010 and 2015, while battery storage’s use for electricity could hit 250GW by 2030, from just 1GW today, according to the International Renewable Energy Agency (IRENA).