4-hour battery storage is cheaper to install than gas turbines all across globe
6 hours ago
- Four-hour battery storage is now cheaper than open-cycle gas turbines in all 43 markets where both were modeled.
- Utility-scale solar leads in the Middle East and Africa at $37/MWh, forecast to fall to $24/MWh by 2035.
- China remains the global storage cost benchmark, more than 55% below the rest of Asia Pacific average.
- Solar PV with single-axis tracking is the lowest-cost new-build technology in 43 of 48 modeled markets.
- Grid-scale battery storage costs are declining rapidly across all regions, displacing gas peaking.
- The combination of falling storage costs and renewable resources is redefining power system economics.