Battery Energy Storage Cost Assessment: 2023

Utilities are deploying energy storage systems at increasing rates, due to decreasing technology costs, increasing deployments of renewables, and supportive public policies. While lithium ion batteries are currently the dominant technology deployed over the last decade, there are other energy storage technologies with characteristics that can enable renewable energy integration, grid optimization, and resilient electric power to support societal goals. These characteristics include low-cost long-duration solutions, enhanced safety, longer asset life, secure supply chain, and minimal environmental impacts. This report evaluates installed costs and performance attributes that impact operations and maintenance costs for commercial and emerging battery technologies.The technologies assessed include iron-air, liquid metal, lithium ion, nickel-hydrogen, sodium-sulfur, vanadium redox flow, and zinc bromine (non-flow).

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