Energy storage to reach cost 'holy grail', mass adoption in 5 years

Article  produced by the Deutsche Bank. Major findings in the report:

  • Predicted that energy storage is the missing link of solar adoption. This will be cheap enough and technologically ready to be deployed on a large scale within the next 5 years.
  • Solar plus batteries will be a clear financial choice in mature solar markets in the future
  • Currently, according to Deutsche, the cost of a typical lead-acid battery may be as low as ~$200/kWh, while best in class lithium-ion technology was producing commercial/utility packages in the ~$500/kWh range at end 2014 – half the cost of the ~$1000/kWh 12 months prior.
  • Commercial scale market is one of the first areas where battery deployment will flourish due to clear economic rationale.
  • If properly incentivised, utilities could begin to aggregate neighbourhoods of solar plus batteries to behave as a single source of load reduction.
  • Overview of storage techniques

Currently, according to Deutsche, the cost of a typical lead-acid battery may be as low as~$200/kWh, while best in class lithium-ion technology was producing commercial/utilitypackages in the ~$500/kWh range at end 2014 – half the cost of the ~$1000/kWh 12 monthsprior.

Authors: 
Reneweconomy
Publication Category: 
Publication Thematic Areas: 
Year Published: 
2015
Countries covered: 

GN-SEC learning plattform

 

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