WEMO24-Compiled Report-Interactive compressed (002) 4154-7882-8116 v.1 - Flipbook - Page 19
Global
Outlook
FIGURE 5
Total installed storage cost comparisons
Lithium-ion LFP
Lithium-ion NMC
Lead Acid
Vanadium Redox Flow
Zinc
PSH
CAES
Gravitational
Thermal
Hydrogen
2hr
4hr
6hr
8hr
10hr
24hr
100hr
2hr
100 MW
4hr
6hr
8hr
10hr
24hr
100hr
2hr
Some Institutes69 predict that annual stationary storage
deployments will grow at a CAGR70 of 30% from 2023-2033 to
reach a capacity exceeding 2 TWh. To reach these optimistic
predictions, big improvements are needed in policy frameworks,
technology and profitability.
4hr
6hr
8hr
10hr
24hr
100hr
1,000 MW
2hr
2hr
6hr
8hr
10hr
24hr
100hr
$0 $100 $200 $300 $400 $500
$600 $700 $800
Total Installed Cost ($/kWh)
$900 $1,000 $1,100
68 https://energy.ec.europa.eu/topics/research-and-technology/energy-storage/
recommendations-energy-storage_en
69 https://www.idtechex.com/en/research-report/
batteries-for-stationary-energy-storage-2023-2033/905
70 CAGR: Compound Annual Growth Rate
WEMO 2024
10 MW
Stationary batteries demand is set to grow in line with the
increasing percentage of intermittent renewables connected
to the electricity grids. For example, in the EU roadmap they
would reach more than 65% share in the electricity mix by
2030 as the need for flexibility in the electricity system will
increase significantly in all EU countries, reaching 24% of total
EU electricity demand in 2030.68
19
1 MW
Batteries Energy Storage Systems (BESS) have their value mostly
in short-term balancing of the grid (1 to 4 h time scales). Thanks
to electrical cars development, stationary battery performances
and costs are improving quickly.
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