Cost Projections for Utility-Scale Battery Storage: 2021 Update

Research output: NRELTechnical Report

Abstract

In this work we describe the development of cost and performance projections for utility-scale lithium-ion battery systems, with a focus on 4-hour duration systems. The projections are developed from an analysis of recent publications that consider utility-scale storage costs. The suite of publications demonstrates varied cost reductions for battery storage over time. Figure ES-1 shows the low, mid, and high cost projections developed in this work (on a normalized basis) relative to the published values. Figure ES-2 shows the overall capital cost for a 4-hour battery system based on those projections, with storage costs of $143/kWh, $198/kWh, and $248/kWh in 2030 and $87/kWh, $149/kWh, and $248/kWh in 2050. Battery variable operations and maintenance costs, lifetimes, and efficiencies are also discussed, with recommended values selected based on the publications surveyed.
Original languageAmerican English
Number of pages21
DOIs
StatePublished - 2021

NREL Publication Number

  • NREL/TP-6A20-79236

Keywords

  • battery
  • capacity expansion
  • cost projection
  • lithium ion
  • storage

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