Battery Power’s Latest Plunge in Costs Threatens Coal & Gas
“The long-term cost of supplying grid electricity for today’s lithium-ion batteries is falling faster than expected”, according to a recent article on Bloomberg New Energy Finance.
The outcome is that multi-hour energy storage can compete with natural gas and coal.
So projects that weren’t viable 12 months ago may be feasible now.
They report that photovoltaic solar has also got cheaper. It’s down 10% on equivalent figures of a year ago and 84% since 2010.
A factor that was published on the blog just a few weeks ago – Solar power is a technology, not a fuel.
“Batteries co-located with solar or wind projects are starting to compete.
In many markets and without subsidy, with coal- and gas-fired generation for the provision of ‘dispatchable power’.
It is so that it can be delivered whenever the grid needs it
(as opposed to only when the wind is blowing, or the sun is shining).”
If you want to find out more here’s the full article.