Battery storage technology used in stationary applications could be as much as 66% cheaper by 2030 provided the current capacity of renewable energy installed globally doubles, finds a new report by the International Renewable Energy Agency (IRENA). The IRENA report, titled Electricity Storage and Renewables: Costs and Markets to 2030, also found that the installed base of global storage capacity could triple by 2030 if renewable growth trajectory was maintained, while battery-specific storage could enjoy a 17-fold increase. Launched at Tokyo’s Innovation for Cool Earth Forum, IRENA’s report forecasts a growing role in the stationary storage space for lithium-ion and flow batteries. Currently, stationary electricity storage is 96% pumped hydro worldwide, but as the growth of solar and wind continues, so too will adoption of battery-based storage models.
Renew Economy 9th Oct 2017 read more »