Solar and storage projects drive utility-scale deployment of batteries: Navigant

The utility-scale energy storage market has seen a steady growth since 2011, with more than 8.9 GW of non-pumped hydro storage projects coming online over the past seven years, according to Navigant Research, “How Utilities Can Look Beyond Natural Gas with Cost-Effective Solar Plus Storage Strategies.” Due to the advancements in lithium-ion battery technology, Navigant Research expects that PPA prices for projects combining energy storage and renewable resources will continue to decline as their adoption expands. Navigant Research’s findings are in line with last week’s analysis by Bloomberg New Energy Finance (BNEF), which showed that the LCOE for lithium-ion batteries has fallen 35% to $187/MWh since the first half of 2018.

Source: www.utilitydive.com