Energy storage costs could fall by as much as 70% by 2030, according to a report by Oslo-based certification society DNV GL that included cost analysis from PriceWaterhouseCoopers.
“Solar storage will become more competitive as new battery technology drives prices down, and wind storage more attractive as technical advances in areas such as composite materials enable the power generated by wind turbines to increase,” the report states.
DNV GL concluded the net cost of storage is poorly documented, since most calculations based on the levelized cost of energy leave out the revenue benefits of adding storage to energy systems. “We found clear indications that a narrow focus on costs alone drives the common misperception that electrical energy storage is more expensive than it really is,” said lead author Paul Gardner.
