By The Numbers: Grid Energy Storage gets Cheaper

Abstract

This article discusses introduction of modern technologies to enhance electric grid storage. The New York investment firm Lazard released an analysis of energy storage technologies, based on the levelized cost. The analysis looked at two different common battery chemistries—lithium-ion and lead-acid—as well as flow batteries. Lazard analyzed the cost of ‘behind the meter’ applications, such as battery backups for residential solar systems or businesses trying to save demand at peak times. Lazard expects lithium-ion storage prices to continue dropping over the next 5 years. It is expected that the cost of storage may soon become cheap enough to make the spotty service of wind and solar power an annoyance, not a deal-breaker.