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Energy storage ‘megashift’ ahead, battery costs set to fall 60% by 2020

REnew Economy
By Sophie Vorrath on 3 August 2015

The key role energy storage will play in the electricity grids of the future – and the vital importance of investing in and testing the various emerging battery storage technologies – has been highlighted in a major report published by the Australian Renewable Energy Agency on Monday, which predicts a 40-60 per cent price plunge for certain battery technologies by 2020.

The 130-page report prepared by AECOM predicts a “mega-shift” to energy storage adoption, driven by demand – from both the supply side, as networks work to adapt to increasing distributed and renewable energy capacity, and from consumers wishing to store their solar energy – and by the rapidly changing economic proposition; a proposition, the report says, that will see the costs of lithium-ion batteries fall by 60 per cent in less than five years, and by 40 per cent for flow batteries.  For full article.

batteries, Renewable Energy

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