Battery Storage Costs: the economics?

This model shows the full-cycle cost of storing a kWh of electricity, across ten different technologies that have been proposed to backstop renewables.

The model allows you to flex input assumptions, such as the costs of each battery, its useful life and the frequency of charge/discharge cycles.

Pumped storage currently screens as most economical for backstopping renewables, by a factor of 3x, under our base case assumptions.

Backstopping solar also looks about 3x easier than backstopping wind, as smaller batteries are needed, and costs are a function of system size. But no battery can truly backstop renewables.

Covered storage technologies include pumped storage, compressed air storage, lithium ion batteries, redox flow batteries, four other battery types, flywheels and ultra-capacitors.