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Market Research Report

U.S. Front-of-the-Meter Energy Storage System Prices 2018-2022

Published by Greentech Media Inc. Product code 608085
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U.S. Front-of-the-Meter Energy Storage System Prices 2018-2022
Published: February 27, 2018 Content info:
Description

Energy storage system prices are predicted to decline at a rate of 8% annually through 2022, a slower pace than previous declines. Future changes in system prices will likely be driven by innovation and improvements in the varied hardware components that make up front-of-the-meter energy storage systems. Notably, standardization of system design and engineering, and competitive markets, will all continue to bring down storage BOS hardware costs as well as engineering, procurement and construction (EPC) expenses.

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New system architectures and inverter selections will also impact the final cost of energy storage systems in the future. This report touches on all these components and uses a bottom-up methodology to track, model and report on energy storage system prices. The full report includes both an in-depth analysis of the data and a cost model.

Table of Contents

Table of Contents

  • 1. Executive Summary
  • 2. The U.S. Energy Storage Market and System Prices
  • 3. Lithium-Ion Battery Prices
  • 4. Energy Storage Balance-of-System Costs
  • 5. Hardware and Controls Costs
  • 6. Engineering, Procurement and Construction Costs
  • 7. Interconnection Costs
  • 8. Base Case: All-In Storage System Price Trends
  • 9. Alternate Case: Storage System Price Trends
  • 10. Nonstandard Cost Adders
  • 11. System Price Assumptions
  • 12. Conclusion

List of Figures

  • Year-Over-Year Decline in Battery Price and BOS Cost, 2013 - 2022E (%)
  • U.S. Front-of-the-Meter Cumulative Deployments, 2012-2022E (MW)
  • Historical Turnkey Storage System Price for Various Durations, 2012- 2016 ($/kW)
  • Forecasted Turnkey Storage System Price for Systems of Various Durations, 2017-2022E ($/kW)
  • Year-Over-Year Decline in Turnkey Storage System Prices, 2012- 2022E (%)
  • Year-Over-Year Decline in Energy Storage System Prices Versus Utility-Scale Solar PV System Prices, 2013-2022E (%)
  • Energy Storage Turnkey System Price Stack, 2018E ($/kW)
  • Historical Lithium-Ion Battery Price ($/kWh) vs. Historical Cumulative Front-of-the-Meter Lithium-Ion Deployments (MWh), 2012-2016
  • Forecasted Lithium-Ion Battery Price ($/kWh) vs. Forecasted Cumulative Front-of-the-Meter Lithium-Ion Deployments (MWh), 2017-2022E
  • Year-Over-Year Decline in Lithium-Ion Battery Prices, 2013-2022E (%)
  • Forecasted Global New EV Sales, 2015-2022E (Million Units)
  • Historical Turnkey BOS Costs for Front-of-the-Meter Lithium-Ion Systems, 2012-2016 ($/kW)
  • Forecasted Turnkey BOS Costs for Various System Durations, 2017- 2022E ($/kW)
  • Year-Over-Year Decline in Turnkey BOS Costs, 2012-2022E (%)
  • All-In BOS Cost Stack for Various System Durations, 2018E (%)
  • Lithium-ion Energy Storage Container
  • Hardware and Controls Cost Stack for 5 MW/10 MWh Systems, 2018E (%)
  • Forecasted Storage Inverter Costs, 2017-2022E ($/kW)
  • Forecasted Containerization Costs for Metal Enclosure for 5 MW/10 MWh System, 2017-2022E ($/kW)
  • Forecasted Containerization Costs for Concrete Enclosure for 5 MW/10 MWh System, 2017-2022E ($/kW)
  • Forecasted Software and Controls Costs, 2017-2022E ($/kW)
  • Forecasted EPC Cost for Metal Enclosure for 5MW/10MWh System, 2017-2022E ($/kWh)
  • Forecasted EPC Cost for Concrete Enclosure for 5 MW/10 MWh System, 2017-2022E ($/kWh)
  • Forecasted Turnkey BOS Costs for 5 MW System at Different Durations of Discharge for Metal Enclosure vs. Concrete Enclosure, 2018E ($/kW)
  • Forecasted BOS Costs for 5 MW/10 MWh System With Metal Enclosure vs. Concrete Enclosure, 2017-2022E ($/kW)
  • Forecasted BOS Costs for 5 MW/30 MWh System With Metal Enclosure vs. Concrete Enclosure, 2017-2022E ($/kW)
  • Forecasted Interconnection Costs, 2017-2022E ($/kW)
  • Forecasted High-Voltage Interconnection Costs, 2017-2022E ($/kW)
  • Forecasted U.S. Energy Storage System Price for Systems of Various Durations, 2017-2022E ($/kW)
  • Forecasted System Prices for 2-Hour-Duration, Metal Container Systems With Central Inverters, 2017-2022E ($/kW)
  • Forecasted System Prices for 2-Hour-Duration, Metal Container Systems With String Inverters, 2017-2022E ($/kW)
  • Forecasted System Prices for Aggressive Case, 2017-2022E ($/kW)
  • Year-Over-Year Decline in Base Case Versus Aggressive Case, 2017- 2022E (%)
  • Year-Over-Year Decline in Battery Price and BOS Costs for Base Case Versus Aggressive Case, 2017-2022E (%)
  • Microgrid Adder and Solar-Related Component Cost / Other Cost Adders
  • Forecasted Microgrid Adder Costs, 2017-2022E ($/kW)
  • Forecasted Solar-Related Component Costs, 2017-2022E ($/kW)
  • Various Solar-Plus-Storage System Architectures
  • Forecasted Cost of Multi-Port Hybrid Inverter, 2017-2022E ($/kW)
  • Other Costs as a Subset of System Price (%)
  • Discounts and Premiums for Different System Sizes (%)
  • Forecasted System Price for 5 MW/30 MWh (6-Hour Duration) System, 2017-2022E ($/kW)
  • BOS Cost Comparison for Non-Lithium Ion Storage Technologies
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