2022 Grid Energy Storage Technology Cost and
In September 2021, DOE launched the Long-Duration Storage Shot which aims to reduce costs by 90% in storage systems that deliver over 10
The 2020 Cost and Performance Assessment provided installed costs for six energy storage technologies: lithium-ion (Li-ion) batteries, lead-acid batteries, vanadium redox flow batteries, pumped storage hydro, compressed-air energy storage, and hydrogen energy storage.
To forecast those cost and performance parameters out to the year 2025. To annualize the values derived so that the cost of each technology may be fairly compared given their varying life cycles. Along with CT, the following energy storage technologies are evaluated: Ultracapacitors.
Technical specifications and costs for storage technologies (e.g., lithium-ion batteries, pumped hydro, thermal storage). Current and projected costs for installation, operation, maintenance, and replacement of storage systems. Expected lifespan and degradation rates of storage technologies.
Overall, on a $ /kWh basis, PSH and CAES are the most cost-effective energy storage technologies evaluated within this report. However, PSH is a more mature technology with much higher performance with regards to usable life, RTE, and other parameters.
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