Costs of stationary batteries to fall by up to 66% by 2030 - IRENA

Stationary battery storage could see a cost reduction of up to 66%, prompting a 17-fold growth of installed capacity, according to a report by the International Renewable Energy Agency (IRENA).

"As storage technology improves and prices decline, both utility-scale and small-scale, distributed applications could grow dramatically, accelerating renewable energy deployment," said IRENA director-general Adnan Z Amin.

According to the report, released on Friday, total electricity storage capacity is to triple by 2030, growing from an estimated 4.67 TWh now to 11.89 TWh-15.72 TWh, if countries double the share of renewables in the global energy system. Currently, pumped hydro storage accounts for 96% of the total, but by 2030 its share is to decline as economies of scale and technology improvements accelerate the adoption of alternative storage technologies such as lithium-ion (Li-ion) batteries and flow batteries. Non-pumped hydro electricity storage is to expand to 5,821 GWh-8,426 GWh in 2030 from an estimated 162 GWh in 2017.

Battery capacity in stationary applications is currently estimated at 11 GWh. It is to grow to between 100 GWh and 167 GWh in 2030 in the reference case and to 181 GWh- 421 GWh in the doubling renewables case. The latter represents a 17- to 38-fold increase.

IRENA says that the central estimate for installed costs of battery storage systems is expected to fall to between USD 75 (EUR 64) and USD 480 per kWh by 2030 from between USD 150 and USD 1,050 in 2016, or by between 50% and 66% depending on the technology.

(USD 1 = EUR 0.852)

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