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Cost of Battery

Battery as energy storage has many roles in the implementation of renewable energy. Battery can reduce fluctuations in wind and photo-voltaic (PV) output, and allows sale of renewable energy at high-value times. The ability of the battery to provide large current in a short time becomes an important consideration to overcome black out. Power and frequency oscillation can be damped rapidly by varying the real and reactive output of storage. Battery will allow load to operate through outages, providing reliability and power quality.

The battery will delay new transmissions and new generating capacity. Mass transfer of power can be delayed by storing energy until needed, or until its value increases. The correct storage unit can be charged during off-peak times, reducing peak load and increasing the transmission capacity effectively. Fewer peak units are required when storage reduces peak demand. Storage allows DG (Deep cycle GEL), such as micro-turbines and fuel cells, operating at constant output with the highest efficiency, reducing fuel usage and emissions.

A giga-factory of lithium-ion battery and strong renewable energy growth are driving the decrease of energy storage cost. Lithium-ion battery are already widespread in consumer electronics, electric vehicle and step by step deployed in household energy storage. The rising grid energy cost affect storage more economical for load shifting. When market of energy storage growth, the other country will make strategy to distribute and develop energy storage technology.

Along with the tremendous increase in production, and the slowing demand growth, there is a decrease in battery prices from 2014 to 2017. The decline in battery prices varies depending on the factors mentioned above. On average over three years, Lithium Ion, Zinc Bromide, and Nickel Iron has dropped to about 40%. The price of other batteries is slower, the decline tends to be stable. By 2020, Lithium-ion batteries are predicted to be the cheapest battery of 200 USD/kW.

Demand for global battery storage is predicted to reach about 1289 GWh by 2030. The inter-state race not only focuses on the economy and food, but also the race on storage energy storage ownership. It is interesting if people begin to build a civilization by battery power plant storage in remote area. This huge market potential must be prepared with lucrative regulations and offers the government to help the welfare of society.

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