When are battery cost projections updated?
In , battery cost projections were updated based on publications that focused on utility-scale battery systems (Cole and Frazier ), with updates published in (Cole and Frazier ), (Cole, Frazier, and Augustine ), and (Cole and Karmakar ).
Do projected cost reductions for battery storage vary over time?
The suite of publications demonstrates wide variation in projected cost reductions for battery storage over time. Figure ES-1 shows the suite of projected cost reductions (on a normalized basis) collected from the literature (shown in gray) as well as the low, mid, and high cost projections developed in this work (shown in black).
What will BNEF expect in ?
BNEF expects pack prices to decrease by $3/kWh in , based on its near-term outlook. Looking ahead, continued investment in R&D, manufacturing process improvements, and capacity expansion across the supply chain will help improve battery technology and further reduce prices over the next decade.
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