Long-duration energy storage (LDES) technologies are becoming cost-competitive with traditional lithium-ion batteries for extended discharge durations, particularly beyond eight hours. Here’s the breakdown:
Cost Comparisons
- Lithium-ion systems: Averaged $304/kWh globally for four-hour duration storage in 2023.
- LDES alternatives:
- Thermal energy storage: $232/kWh (global average).
- Compressed air storage: $293/kWh (global average).
- Gravity storage: $643/kWh (highest among LDES).
Key Factors
- Regional disparities: Non-China markets face 54–68% higher costs for LDES due to lower commercialization, whereas China leverages gigawatt-scale projects and policy support.
- Cost-reduction potential: LDES technologies like thermal storage are already cheaper than lithium-ion for durations >8 hours, but may struggle to match lithium-ion’s future cost declines.
- Innovation needs: Some LDES systems (e.g., sodium-ion, molten salt thermal) require further innovation to reach <$0.05/kWh targets, with cost reductions projected between $0.027–$0.31/kWh depending on technology.
LDES offers a viable alternative for grid-scale, long-duration needs, but adoption hinges on regional policies and technological advancements.
Original article by NenPower, If reposted, please credit the source: https://nenpower.com/blog/how-does-the-cost-of-ldes-technologies-compare-to-traditional-energy-storage-solutions/
