2.3 Storage

Reduce the cost of short-duration electricity storage to less than $50 per kWh by 2028 and the cost of long-duration electricity storage (up to 30 days) below $10 per kWh by 2030.

2024
$165 per kWh
cost for short-duration electricity storage
2028
<$50 per kWh
cost for short-duration electricity storage
2030
<$10 per kWh
cost for long-duration electricity storage (up to 30 days)

How Is KR 2.3 Tracking?

Sun and wind are inherently intermittent and inconsistent. To make a clean grid as reliable as one run by fossil fuels, we need huge amounts of electricity storage.

Clean electricity must hold up through periods of peak demand and in extreme weather events, including heat waves, hurricanes, and winter storms. To that end, renewable power installations demand short-term, grid-scale electricity storage. Pumped-storage hydropower does well in locales with reservoirs. Batteries, which are readily scalable and can work anywhere, are seeing an expanding role. 

To store grid power economically for weeks or months, we’ll need to develop and scale new solutions. Clean hydrogen has high potential here. Affordable longer-term electricity storage is a top R&D priority for grid innovation (KR 9.2).

Insufficient Progress

Short-duration storage: $165 per kWh

Long-duration storage: Limited Data

Source: BloombergNEF, 2024

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