Cancel

gear Push settings

bars

homehome Home chatchat Notifications


Energy storage hardware cost to drop 41% by 2020, further accelerating clean tech

A GreenTechMedia analysis forecasts that energy storage systems, like large density batteries, will become a lot cheaper in the coming years. According to the report, the cost of installing an energy storage system will drop by some 41% by 2020. Energy storage is tightly linked with renewable energy generation, driving a lower cost overall for clean energy.

Tibi Puiu
January 5, 2016 @ 5:33 pm

share Share

A GreenTechMedia analysis forecasts that energy storage systems, like large density batteries, will become a lot cheaper in the coming years. According to the report, the cost of installing an energy storage system will drop by some 41% by 2020. Energy storage is tightly linked with renewable energy generation, driving a lower cost overall for clean energy.

solar energy storage

To be more precise,  the balance-of-system cost (hardware, labor and customer acquisition, etc.) suggests installing energy storage will drop to $400 a kilowatt by 2020, down from the current average of $670. According to Luis Ortiz writing for GreenTechMedia, storage systems have experienced diminishing costs because they’ve “piggybacked on solar’s progress.”

The biggest price cut will be seen in inverters — the most complicated piece of machinery in the storage system, besides the battery. A solar inverter, or PV inverter, or Solar converter, converts the variable direct current (DC) output of a photovoltaic (PV) solar panel into a utility frequency alternating current (AC) that can be fed into a commercial electrical grid or used by a local, off-grid electrical network.

Market research firm IHS also estimates that grid-connected PV energy storage paired with energy storage will reach 775MW of global installations during 2015.

“Newer technologies are just getting traction and finding their sweet spot. Some will leap forward we’ll see the most dramatic decreases in cost as they gain economies of scale,” said Trojan Battery senior sales director Dean Middleton.

 

share Share

This 5,500-year-old Kish tablet is the oldest written document

Beer, goats, and grains: here's what the oldest document reveals.

A Huge, Lazy Black Hole Is Redefining the Early Universe

Astronomers using the James Webb Space Telescope have discovered a massive, dormant black hole from just 800 million years after the Big Bang.

Did Columbus Bring Syphilis to Europe? Ancient DNA Suggests So

A new study pinpoints the origin of the STD to South America.

The Magnetic North Pole Has Shifted Again. Here’s Why It Matters

The magnetic North pole is now closer to Siberia than it is to Canada, and scientists aren't sure why.

For better or worse, machine learning is shaping biology research

Machine learning tools can increase the pace of biology research and open the door to new research questions, but the benefits don’t come without risks.

This Babylonian Student's 4,000-Year-Old Math Blunder Is Still Relatable Today

More than memorializing a math mistake, stone tablets show just how advanced the Babylonians were in their time.

Sixty Years Ago, We Nearly Wiped Out Bed Bugs. Then, They Started Changing

Driven to the brink of extinction, bed bugs adapted—and now pesticides are almost useless against them.

LG’s $60,000 Transparent TV Is So Luxe It’s Practically Invisible

This TV screen vanishes at the push of a button.

Couple Finds Giant Teeth in Backyard Belonging to 13,000-year-old Mastodon

A New York couple stumble upon an ancient mastodon fossil beneath their lawn.

Worms and Dogs Thrive in Chernobyl’s Radioactive Zone — and Scientists are Intrigued

In the Chernobyl Exclusion Zone, worms show no genetic damage despite living in highly radioactive soil, and free-ranging dogs persist despite contamination.