The future market for stationary energy storage systems (ESS) is one of the most heavily discussed topics in the power industry today. Significant growth is expected in particular for stationary battery systems, which accounted for only 2GWh globally in 2015 but is expected to grow to 33GWh by the end of the decade.
One of the key drivers – and prerequisites – of this growth is a significant cost decrease and the resulting competitiveness of energy storage systems compared to traditional, non-storage solutions. At the same time, an increasing number of ESS technologies has become available for commercial application in a variety of use cases, each with a different cost of energy storage that needs to be compared thoroughly.
But what does “cost of energy storage” really mean?
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