lpetrich
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The US Energy Storage Market Kicks Into High Gear | Greentech Media
Report: Levelized Cost of Energy for Lithium-Ion Batteries Is Plummeting | Greentech MediaThe latest numbers for U.S. energy storage activity are out. They show a surge of activity coming over the next five years, leading to 6x market growth.
By 2024, the storage market will be worth $4.7 billion, driven evenly by utility-scale and behind-the-meter battery projects.
Germany Looks to Put Thermal Storage Into Coal Plants | Greentech MediaThe long-term cost of supplying grid electricity from today’s lithium-ion batteries is falling even faster than expected, making them an increasingly cost-competitive alternative to natural-gas-fired power plants across a number of key energy markets.
That’s the key finding from a Tuesday report from Bloomberg New Energy Finance on the levelized cost of energy (LCOE) — the cost of a technology delivering energy over its lifespan — for a number of key clean energy technologies worldwide.
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In fact, the LCOE for multi-hour lithium-ion batteries is falling to the point that “batteries co-located with solar or wind projects are starting to compete, in many markets and without subsidy, with coal- and gas-fired generation for the provision of ‘dispatchable power’ that can be delivered whenever the grid needs it (as opposed to only when the wind is blowing, or the sun is shining),” the report notes.
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Just this week, clean energy advocacy and research organization Energy Innovation and Vibrant Clean Energy released a report finding that the LCOE of new renewables in the U.S. is lower than that of nearly three-quarters of the U.S. coal fleet — a not completely surprising finding, given the coal power industry’s well-documented challenges in competing with cheap natural gas, and increasingly cheap wind and solar power.
That progress is very welcome to see.The German Aerospace Center (Deutsches Zentrum für Luft- und Raumfahrt or DLR) is investigating whether Germany’s coal plants could be reused as energy storage assets.
The research body, which has a track record in concentrated solar power (CSP) development, is planning a pilot that will involve ripping out the boiler from an old coal plant and replacing it with a molten salt thermal storage tank that will be heated using excess renewable energy.
If the concept works, then advocates say it could help safeguard coal generation jobs while giving Germany tens of gigawatts of storage capacity for renewable energy load-shifting on the German grid.