Long-duration energy storage poised to outcompete lithium-ion batteries
- Admin
- May 31, 2024
- 1 min read
Interest in long-duration energy storage is rising rapidly as demand for clean firm capacity grows. BloombergNEF's inaugural LDES cost survey provides transparency on the cost of various technologies. The least expensive technologies for durations over eight hours are already cheaper than lithium-ion batteries. Factors affecting LDES capex include storage duration, project size, and location. Gravity energy storage has the highest average capex. Cost reduction in LDES technologies depends on deployment expansion and market development.
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