1. Energy Storage 'Megashift' Ahead, Battery Costs Set to Fall 60% by 2020

    Energy Storage 'Megashift' Ahead, Battery Costs Set to Fall 60% by 2020

    The key role energy storage will play in the electricity grids of the future – and the vital importance of investing in and testing the various emerging battery storage technologies – has been highlighted in a major report published by the Australian Renewable Energy Agency on Monday, which predicts a 40-60 per cent price plunge for certain battery technologies by 2020.

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  1. Quotes

    1. The trend of reducing costs for battery technologies such as lithium-ion and flow battery technologies suggests that there will be a dramatic shift towards these technologies in the next one to two decades.
    2. One of the largest markets for energy storage systems will be the end-user market, which looks to pair storage systems with rooftop solar PV.
    3. The behind-the-meter market segment of energy storage is widely expected to undergo a similar boom to the solar PV industry, with a tipping point expected within the next 10 years as further cost reductions are achieved.
    4. Given that energy storage can help fulfil this role by facilitating higher penetrations of solar PV, $120/MWh is a good estimate of the value of energy storage in this application.
    5. By supporting the development of an efficient market for energy storage, ARENA will facilitate additional supply of renewable energy by addressing intermittency and power quality challenges that could otherwise stall growth in the market.
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  4. Categories

    1. Electricity Source:

      Fossil Fuels, Solar Photovoltaic, Wave, Tidal, Hydro, Wind
    2. Storage Market:

      Commercial & Industrial, Market forces, Microgrid & Community, Military, Residential, Smart Grid, Utility Grid, Vehicle-to-Grid/Home
    3. Storage Technology:

      Compressed Air/Gas, Flow Battery, Flywheel, Hydrogen, Lead, Liquid Metal, Lithium, Magnesium, Mechanical Storage, Nickel, Pumped Hydro, Sodium, Supercapacitors, Thermal, Vanadium, Zinc
    4. Article Types:

      Null, Reports and Conferences