Market Research Report
Market Data - Energy Storage Pricing Trends: Advanced Energy Storage System and Battery System Component Costs and Trends for Grid Storage and Transportation - Global Analysis
|Published by||Guidehouse Insights (formerly Navigant Research)||Product code||933684|
|Published||Content info||38 Pages; 39 Tables, Charts & Figures
Delivery time: 1-2 business days
|Market Data - Energy Storage Pricing Trends: Advanced Energy Storage System and Battery System Component Costs and Trends for Grid Storage and Transportation - Global Analysis|
|Published: April 23, 2020||Content info: 38 Pages; 39 Tables, Charts & Figures||
Declining prices for energy storage technologies continue to be the biggest driver of growth for both the EV and stationary grid energy storage markets. Although supply shortages in 2018 and 2019 temporarily limited price reductions as demand outpaced supply, the industry is seeing aggressive declines in Lithium ion (Li-ion) battery prices. These declining prices are opening new markets and profitable applications for grid storage to compete with conventional fossil fuel generation technologies. Simultaneously, the falling price of batteries allows lower price EVs with longer driving ranges to compete directly with gasoline and diesel vehicles.
The primary factor driving continued price declines for Li-ion batteries is the rapidly growing capacity of global battery manufacturing. Other advanced battery technologies and electromechanical energy storage system (ESS) technologies are gaining traction for grid storage due to their operating characteristics and better safety profiles. On the EV side, Li-ion batteries face little to no competition.
This Guidehouse Insights report examines the pricing trends and issues driving growth for energy storage technologies. The report provides system and component price forecasts for four markets: residential energy storage, commercial and industrial (C&I) energy storage, utility-scale energy storage, and EV batteries (EVBs). To show the range of pricing in the market, base, high, and low cases are provided for each segment. The grid storage market forecasts include component-level pricing for average-size residential and C&I ESSs. Detailed forecasts for utility-scale projects based on duration are also included, with a 20 MW project modelled with 10 MWh, 20 MWh, and 80 MWh capacity.