Price decline on energy storage could beat records

Over recent years, the energy sector has watched in awe while the price on solar panels in particular has fallen dramatically. Now it seems that this price decline will soon be exceeded by battery technology.

Photo: European Energy

While just a few years ago it was far too expensive to invest in storage systems for renewables, the sector is now facing a major price decline which surpasses even the solar panel industry, concludes a new study from University of California and Technical University Munich, according to PV Magazine.

The study's projection of the cost per kWh of a lithium-ion battery shows that the costs look set to fall from USD 10,000 pr kWh in the 1990s to just USD 100 per kWh in 2019.

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