2022 Grid Energy Storage Technology Cost and
Due to intra-annual uncertainty, the reported costs may have changed by the time this report was released. The cost estimates provided in the report are not intended to be exact numbers but
Energy storage and its impact on the grid and transportation sectors have expanded globally in recent years as storage costs continue to fall and new opportunities are defined across a variety of industry sectors and applications.
Looking at 100 MW systems, at a 2-hour duration, gravity-based energy storage is estimated to be over $1,100/kWh but drops to approximately $200/kWh at 100 hours. Li-ion LFP offers the lowest installed cost ($/kWh) for battery systems across many of the power capacity and energy duration combinations.
Cost information for various gravity-based storage systems was obtained directly from developers. For brick-based storage systems, cost and performance information was obtained for a single power output (10 MW) with two different energy outputs (40 and 2,40 MWh) (Terruzzin, 2021).
Grid-scale energy storage, however, lacks the stringent power and weight constraints of electric vehicles, enabling a multitude of storage technologies to compete to provide current and emerging grid flexibility services.
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