Cost structure of environmentally friendly power storage
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Introduction
The survey methodology breaks down the cost of an energy storage system into the following categories: storage module, balance of system, power conversion system, energy management system, and the engineering, procurement, and construction costs. The second edition of the Cost and Performance Assessment continues ESGC’s efforts. There is a need for a trusted benchmark price that has a well understood and internally consistent methodology so comparing the different technology options across different power and energy levels produces a reliable answer. Small-scale lithium-ion residential battery systems in the German market suggest that between 2014 and 2020, battery energy storage systems (BESS) prices fell by 71%, to USD 776/kWh. Department of Energy’s (DOE) Energy Storage Grand Challenge is a comprehensive program that seeks to accelerate.
Cost structure of environmentally friendly power storage
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