NREL’s benchmarking uses a four-hour system for utility-scale, which has quickly become the norm in the largest market, California. Projects like Terra-Gen’s 560MWh Valley Center Battery Storage Project, San Diego, which came online in March, have four-hour durations to participate in Resource Adequacy, the state’s capacity market. Image: Terra-Gen.
Energy storage costs in the US grew 13% from Q1 2021 to Q1 2022, said the National Renewable Energy Laboratory (NREL) in a cost benchmarking analysis.
The research laboratory has revealed the results of its ‘U.S. Solar Photovoltaic System and Energy Storage Cost Benchmarks, With Minimum Sustainable Price Analysis: Q1 2022‘ report.
For standalone energy storage, NREL said that the costs benchmark grew 2% year-on-year for residential systems to US$1,503/kWh and 13% for utility-scale to US$446/kWh.
Both…