Long-duration energy storage (LDES) technologies show significant cost variations, with thermal and compressed air storage currently leading in affordability for durations exceeding eight hours, while flow batteries and gravity storage remain more expensive. Here’s a breakdown:
Cost Comparison of LDES Technologies
- Thermal energy storage:
- Global average capex: $232/kWh (cheapest).
- Non-China markets: Costs are 54% higher than in China due to slower commercialization.
- Compressed air energy storage (CAES):
- Global average capex: $293/kWh.
- Non-China markets: 68% higher costs compared to China.
- Flow batteries:
- Global average capex: $444/kWh.
- Non-China markets: 66% higher costs than in China.
- Lithium-ion (4-hour systems):
- Global average capex: $304/kWh, making it more expensive than thermal and CAES for 8+ hour durations but competitive for shorter durations.
- Gravity storage:
- Global average capex: $643/kWh (most expensive among surveyed LDES technologies).
Regional Cost Disparities
China dominates LDES deployment, with gigawatt-scale projects driving down costs through policy support and commercialization. Outside China, costs are ~50–70% higher due to fragmented development and smaller project scales.
Future Cost Targets
The US Department of Energy estimates that LDES technologies need 45–55% cost reductions by 2030 to compete with alternatives. Targets include:
| Metric | Current (Best-in-Class) | 2030 Target |
|---|---|---|
| Intra-day LDES | $1,100–1,400/kW (69% RTE) | $650/kW (75% RTE) |
| Multi-day LDES | $1,900–2,500/kW (45% RTE) | $1,100/kW (55–60% RTE) |
Performance improvements, including 7–15% gains in round-trip efficiency (RTE), are critical to achieving these goals.
Key Challenges
- Electrochemical technologies (e.g., flow batteries) face steeper cost-reduction hurdles compared to thermal and mechanical systems.
- Gravity storage must overcome high upfront costs, limiting near-term viability.
Original article by NenPower, If reposted, please credit the source: https://nenpower.com/blog/how-do-the-costs-of-different-ldes-technologies-compare/
