Research shows lithium battery prices are falling -Lithium - Ion Battery Equipment
Research firm Navigant recently released the latest survey data on "pricing trends in advanced batteries and energy storage systems", and by 2030, lithium battery prices may drop from the current $139/kWh to $76/kWh.
Alex Eller, senior research analyst at the company, said that while the survey report can provide insight into a range of energy storage technology developments, the real concern is lithium batteries used in grid-scale energy storage systems.
Eller said, "Lithium battery prices will continue to fall in 2019, but in 2018 they will fall much less than expected due to supply shortages. Overall, our long-term forecast for lithium-ion price declines is more conservative than other research firms. But We believe lithium battery prices may still fall less than expected as the rapidly rising demand for batteries results in tight supplies of finished batteries and key materials."
In March, Logan Goldie-Scott, head of energy storage analysis at Bloomberg New Finance, said the average cost of lithium-ion batteries could be as low as $62/kWh by 2030, but noted that some analysts may underestimate the price of lithium-ion batteries.(Lithium - Ion Battery Equipment)
In a blog post, Goldie-Scott wrote, "Different cell and pack designs, cell materials, economies of scale, and regional circumstances create a range of differences in the battery market. In addition, if the deployment of batteries is much higher than expected, the average price of There is further downward pressure."
Renewable energy integration requires a large number of energy storage systems
At the same time, Eller said that overall, despite these caveats, his team has modeled that lithium battery prices will continue to fall. "We expect lithium battery prices to fall from an average of $139 per kWh in 2019 to $76 per kWh in 2028, which in itself will be a significant driver of price declines for grid-scale energy storage projects," he said.
Eller said that by modeling 10MW/5MWh, 10MW/10MWh, and 10MW/40MWh grid-scale energy storage systems, Navigant found that the longer the continuous discharge time, the higher the price of the energy storage system due to new components.
"For example, the current average price for a 10MW/40MWh lithium battery energy storage system is about $15.8 million, and it is expected to drop to $9.8 million by 2028," he said.
At the same time, IDTechX, a UK-based market research agency, released the research report "2019-2029 Stationary Battery Energy Storage Systems", which introduced the countries and regions leading the development of the global energy storage market, and predicted the future 10 of these markets. annual development.
According to IDTechX, the survey showed that 6GWh of stationary energy storage equipment was deployed globally in 2018, and 2018 was a year of extraordinary growth in energy storage deployment. And stressed that even the 129MWh battery storage system deployed by TSLA in South Australia will be dwarfed by the large-scale projects deployed by energy storage suppliers in the future.
IDTechX said last year that the U.S. is starting to emerge as the market leader in energy storage due to policy-driven developments in key markets such as California, while South Korea and my country both deploy more than 1GWh of energy storage systems each year.
The company said there have been problems with the rapid development of energy storage deployments, such as fires in multiple deployed energy storage systems in South Korea in 2018.
"Despite some problems, countries and regions that are vigorously developing renewable energy will continue to deploy a large number of energy storage systems," said a statement released by the company.
Alex Eller, senior research analyst at the company, said that while the survey report can provide insight into a range of energy storage technology developments, the real concern is lithium batteries used in grid-scale energy storage systems.
Eller said, "Lithium battery prices will continue to fall in 2019, but in 2018 they will fall much less than expected due to supply shortages. Overall, our long-term forecast for lithium-ion price declines is more conservative than other research firms. But We believe lithium battery prices may still fall less than expected as the rapidly rising demand for batteries results in tight supplies of finished batteries and key materials."
In March, Logan Goldie-Scott, head of energy storage analysis at Bloomberg New Finance, said the average cost of lithium-ion batteries could be as low as $62/kWh by 2030, but noted that some analysts may underestimate the price of lithium-ion batteries.(Lithium - Ion Battery Equipment)
In a blog post, Goldie-Scott wrote, "Different cell and pack designs, cell materials, economies of scale, and regional circumstances create a range of differences in the battery market. In addition, if the deployment of batteries is much higher than expected, the average price of There is further downward pressure."
Renewable energy integration requires a large number of energy storage systems
At the same time, Eller said that overall, despite these caveats, his team has modeled that lithium battery prices will continue to fall. "We expect lithium battery prices to fall from an average of $139 per kWh in 2019 to $76 per kWh in 2028, which in itself will be a significant driver of price declines for grid-scale energy storage projects," he said.
Eller said that by modeling 10MW/5MWh, 10MW/10MWh, and 10MW/40MWh grid-scale energy storage systems, Navigant found that the longer the continuous discharge time, the higher the price of the energy storage system due to new components.
"For example, the current average price for a 10MW/40MWh lithium battery energy storage system is about $15.8 million, and it is expected to drop to $9.8 million by 2028," he said.
At the same time, IDTechX, a UK-based market research agency, released the research report "2019-2029 Stationary Battery Energy Storage Systems", which introduced the countries and regions leading the development of the global energy storage market, and predicted the future 10 of these markets. annual development.
According to IDTechX, the survey showed that 6GWh of stationary energy storage equipment was deployed globally in 2018, and 2018 was a year of extraordinary growth in energy storage deployment. And stressed that even the 129MWh battery storage system deployed by TSLA in South Australia will be dwarfed by the large-scale projects deployed by energy storage suppliers in the future.
IDTechX said last year that the U.S. is starting to emerge as the market leader in energy storage due to policy-driven developments in key markets such as California, while South Korea and my country both deploy more than 1GWh of energy storage systems each year.
The company said there have been problems with the rapid development of energy storage deployments, such as fires in multiple deployed energy storage systems in South Korea in 2018.
"Despite some problems, countries and regions that are vigorously developing renewable energy will continue to deploy a large number of energy storage systems," said a statement released by the company.
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