Which energy storage technologies are included in the 2020 cost and performance assessment?

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.

How are energy storage systems priced?

They are priced according to five different power ratings to provide a relevant system comparison and a more precise estimate. The power rating of an energy storage system impacts system pricing, where larger systems are typically lower in cost (on a $/kWh basis) than smaller ones due to volume purchasing, etc.

What are energy storage technologies?

Energy storage technologies are used at all levels of the power system. They are priced according to five different power ratings to provide a relevant system comparison and a more precise estimate.

What are the different types of energy storage systems?

The survey methodology breaks down the cost of an energy storage system into the following categories: storage module, balance of system, power conversion system, energy management system, and the engineering, procurement, and construction costs.

Are battery electricity storage systems a good investment?

This study shows that battery electricity storage systems offer enormous deployment and cost-reduction potential. By 2030, total installed costs could fall between 50% and 60% (and battery cell costs by even more), driven by optimisation of manufacturing facilities, combined with better combinations and reduced use of materials.

How many MW is a battery energy storage system?

For battery energy storage systems (BESS), the analysis was done for systems with rated power of 1, 10, and 100 megawatts (MW), with duration of 2, 4, 6, 8, and 10 hours. For PSH, 100 and 1,000 MW systems at 4- and 10-hour durations were considered. For CAES, in addition to these power and duration levels, 10,000 MW was also considered.