How much does a lead-acid battery cost?

For NMC systems, the cost range was $325–$520/kWh. Total project costs varied from $722–$1,383/kWh; some of these variations could be due to chemistry, some due to C&C costs, and others due to project size. Lead-acid batteries had a much tighter cost range in most of the reviewed literature.

Are lead-acid batteries a cost reduction technology?

Lead-acid batteries are a mature technology, especially in the context of Starting, Lighting Ignition batteries used in automobiles. Hence, a 15 percent cost reduction is assumed as this technology gains penetration in the energy storage space. Table 4.2. Ratio of year 2018 to 2025 costs. (Source: DNV GL 2016)

How much does a battery cost?

Given the nature of these storage assets, an energy capacity–based cost comparison is used as opposed to a power-based one. The results show that the Li-ion battery has the lowest total annualized $/kWh cost at approximately $74/kWh of any of the battery energy storage technologies. This is followed by zinc-hybrid cathode technology at $91/kWh-yr.

How are battery energy storage costs forecasted?

Forecast procedures are described in the main body of this report. C&C or engineering, procurement, and construction (EPC) costs can be estimated using the footprint or total volume and weight of the battery energy storage system (BESS). For this report, volume was used as a proxy for these metrics.

How long do lead-acid batteries last?

While the RTE for these batteries is low, there is room for improvement with stack optimization and better flow battery management algorithms. While lead-acid batteries are low cost with high TRLs and MRLs, their cycle life is limited, leading to a usable life of less than 3 years assuming one cycle per day.

How much does battery storage cost?

For longer-term storage, PSH and CAES give the lowest cost in $/kWh if an E/P ratio of 16 is used at $165/kWh and $104/kWh, respectively, inclusive of BOP and C&C costs, while their cost is $660/kWh and $417/kWh, respectively at an E/P ratio of 4.1 Hence, even at the low E/P ratio of 4, they are competitive with battery storage technologies.