Storage-plus PPAs are already less expensive than the levelized cost of energy (LCOE) for combined-cycle natural gas in the United States, according to a recent report from Navigant Research.
Lithium-ion batteries are one of the main drivers in the growth of the utility-scale energy storage market, accounting for almost 30% of non-pumped storage capacity developed since 2011, the report found.
The report comes amid growing expectations that electric utilities increase their investment in storage-plus renewable energy projects as power purchase agreement (PPA) prices continue to fall and adoption expands.
JOIN THE NEWSLETTER
Look forward to better solar industry news insights, commentary, research and blogs, straight to your email inbox