Global cost of energy storage technologies 2015
This statistic displays the costs of energy storage technologies globally in 2015, based on type. During this year, lead acid batteries cost about 950 to 5,800 U.S. dollars per kilowatt hour. Current response time occurred in milliseconds for this technology.
Energy storage technologies
The cost of lead acid batteries can range from 950 U.S. dollars per kilowatt to 5,800 U.S. dollars per kilowatt. However, storing energy through underground compressed air plants --- has a maximum cost of about 1,250 U.S. dollars per kilowatt. There are a wide variety of energy storage technologies available for various applications that differ in price and efficiency.
The first utility-scale CAES system was installed in 1970. Compressed air storage (CAES) can be used on a utility scale, where energy that is generated during periods of low demand can be stored and then released to meet demand during peak times. In a CAES plant, ambient air is compressed and stored in an underground facility and is released when electricity is required. This pressurized air is then heated and expanded in an expansion turbine which drives the generator to produce power. The market potential of CAES is expected to account for over a quarter of the energy storage market in 2030, while solid state batteries are projected to hold over 50 percent of the global market.
One of the most notable usages of energy storage is in the electric car industry. Demand for energy storage in electric vehicles is expected to increase ten-fold from 2011 to 2020. The projected market for lithium-ion batteries used in hybrid electric vehicles is expected to reach 2.5 billion U.S. dollars by 2020. Lithium-ion batteries can also be used in residential systems with rooftop photovoltaic modules as well as larger-scale systems to provide electricity grid services.
Energy storage technologies
The cost of lead acid batteries can range from 950 U.S. dollars per kilowatt to 5,800 U.S. dollars per kilowatt. However, storing energy through underground compressed air plants --- has a maximum cost of about 1,250 U.S. dollars per kilowatt. There are a wide variety of energy storage technologies available for various applications that differ in price and efficiency.
The first utility-scale CAES system was installed in 1970. Compressed air storage (CAES) can be used on a utility scale, where energy that is generated during periods of low demand can be stored and then released to meet demand during peak times. In a CAES plant, ambient air is compressed and stored in an underground facility and is released when electricity is required. This pressurized air is then heated and expanded in an expansion turbine which drives the generator to produce power. The market potential of CAES is expected to account for over a quarter of the energy storage market in 2030, while solid state batteries are projected to hold over 50 percent of the global market.
One of the most notable usages of energy storage is in the electric car industry. Demand for energy storage in electric vehicles is expected to increase ten-fold from 2011 to 2020. The projected market for lithium-ion batteries used in hybrid electric vehicles is expected to reach 2.5 billion U.S. dollars by 2020. Lithium-ion batteries can also be used in residential systems with rooftop photovoltaic modules as well as larger-scale systems to provide electricity grid services.
