According to S&P Global Market Intelligence Q1 Power Forecast, battery storage costs continue to benefit from the growing economies of scale for lithium-ion technology. With estimated stand-alone storage costs declining by 15% to $94/kW-yr, the premium of storage compared to conventional gas peaking generation is shrinking to the point where storage can compete head-to-head in the resource adequacy market while optimizing intermittent generation.
Gain strategic insights into our Q1 Power Forecast:
- Forward natural gas prices
- Forecast growth of renewable power and battery storage
- Projected generation and capacity balances by energy type
- 2021 forecast reserve margins of major power markets
Source:S&P Global Market Intelligence. Images for display purposes only.
