Storage Becoming Cost-Competitive

Energy storage already cost-competitive in commercial sector, finds study

Ian Clover, 30 June 2017 (PV Magazine via ReNew Economy)

“…[Commercial electricity customers are already feeling the economic benefits of cheaper batteries and recent price falls in lithium-ion technology…With battery-pack costs now down to less than $230/kWh – compared to around $1,000/kWh as recently as 2010 – storage uptake is on the rise across Europe, Asia and the U.S....[According to McKinsey’sBattery storage: The next disruptive technology in the power sector,] growth is being facilitated by a greater uptick in electric vehicle (EV) adoption, with major players now scaling-up their lithium-ion manufacturing capacity in order to meet demand…The immediate effect of this has been a downward pressure on prices, and storage has now begun to play a more central role in energy markets…[and] becoming a viable alternative to conventional power generators, and a stable support act for renewable energy…[T]he key driver behind this new trend is price…[In a matter of years households and business may] be able to pair solar+storage with a small electrical generator and defect fully from grids…” click here for more

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