2018-06-09 00:37:59 UTC
Since 2015, it has installed a worldwide total of a gigawatt-hour of energy
storage–technology that is critical for using renewable energy at scale. For
comparison, that’s nearly half of the entire amount of energy storage
installed globally last year.
The cost of battery storage keeps falling; between 2010 and 2016, the price
across the industry fell 73%, from $1,000 a kilowatt-hour to $273 a
kilowatt-hour. By 2020, it may drop to $145 a kilowatt-hour, and by 2025, to
$69.5 a kilowatt-hour.
One research firm, Wood Mackenzie Power and Renewables (also known as GTM
Research), estimates that annual energy storage deployments will grow from 2.3
gigawatt-hours in 2017 to 21.6 gigawatt-hours in 2022 globally.