Quantcast
ZME Science
  • CoronavirusNEW
  • News
  • Environment
    • Climate
    • Animals
    • Renewable Energy
    • Eco tips
    • Environmental Issues
    • Green Living
  • Health
    • Alternative Medicine
    • Anatomy
    • Diseases
    • Genetics
    • Mind & Brain
    • Nutrition
  • Future
  • Space
  • Feature
    • Feature Post
    • Art
    • Great Pics
    • Design
    • Fossil Friday
    • AstroPicture
    • GeoPicture
    • Did you know?
    • Offbeat
  • More
    • About
    • The Team
    • Advertise
    • Contribute
    • Our stance on climate change
    • Privacy Policy
    • Contact
No Result
View All Result
ZME Science

No Result
View All Result
ZME Science
No Result
View All Result
Home Science News

Energy storage hardware cost to drop 41% by 2020, further accelerating clean tech

A GreenTechMedia analysis forecasts that energy storage systems, like large density batteries, will become a lot cheaper in the coming years. According to the report, the cost of installing an energy storage system will drop by some 41% by 2020. Energy storage is tightly linked with renewable energy generation, driving a lower cost overall for clean energy.

Tibi Puiu by Tibi Puiu
January 6, 2016
in News, Renewable Energy

A GreenTechMedia analysis forecasts that energy storage systems, like large density batteries, will become a lot cheaper in the coming years. According to the report, the cost of installing an energy storage system will drop by some 41% by 2020. Energy storage is tightly linked with renewable energy generation, driving a lower cost overall for clean energy.

solar energy storage

To be more precise,  the balance-of-system cost (hardware, labor and customer acquisition, etc.) suggests installing energy storage will drop to $400 a kilowatt by 2020, down from the current average of $670. According to Luis Ortiz writing for GreenTechMedia, storage systems have experienced diminishing costs because they’ve “piggybacked on solar’s progress.”

ADVERTISEMENT

The biggest price cut will be seen in inverters — the most complicated piece of machinery in the storage system, besides the battery. A solar inverter, or PV inverter, or Solar converter, converts the variable direct current (DC) output of a photovoltaic (PV) solar panel into a utility frequency alternating current (AC) that can be fed into a commercial electrical grid or used by a local, off-grid electrical network.

Market research firm IHS also estimates that grid-connected PV energy storage paired with energy storage will reach 775MW of global installations during 2015.

Get more science news like this...

Join the ZME newsletter for amazing science news, features, and exclusive scoops. More than 40,000 subscribers can't be wrong.

   

“Newer technologies are just getting traction and finding their sweet spot. Some will leap forward we’ll see the most dramatic decreases in cost as they gain economies of scale,” said Trojan Battery senior sales director Dean Middleton.

ADVERTISEMENT

 

Tags: energy storagesolar panels
Tibi Puiu

Tibi Puiu

Tibi is a science journalist and co-founder of ZME Science. He writes mainly about emerging tech, physics, climate, and space. In his spare time, Tibi likes to make weird music on his computer and groom felines.

Follow ZME on social media

ADVERTISEMENT
ADVERTISEMENT
ADVERTISEMENT
ADVERTISEMENT
  • Coronavirus
  • News
  • Environment
  • Health
  • Future
  • Space
  • Feature
  • More

© 2007-2019 ZME Science - Not exactly rocket science. All Rights Reserved.

No Result
View All Result
  • Coronavirus
  • News
  • Environment
    • Climate
    • Animals
    • Renewable Energy
    • Eco tips
    • Environmental Issues
    • Green Living
  • Health
    • Alternative Medicine
    • Anatomy
    • Diseases
    • Genetics
    • Mind & Brain
    • Nutrition
  • Future
  • Space
  • Feature
    • Feature Post
    • Art
    • Great Pics
    • Design
    • Fossil Friday
    • AstroPicture
    • GeoPicture
    • Did you know?
    • Offbeat
  • More
    • About
    • The Team
    • Advertise
    • Contribute
    • Our stance on climate change
    • Privacy Policy
    • Contact

© 2007-2019 ZME Science - Not exactly rocket science. All Rights Reserved.