How Is KR 9.2 Tracking?
For the grid of the future to be reliable while keeping electricity affordable, we need innovation in electricity storage.
Reliability means providing low-cost electricity for both everyday power needs and for periods of peak power demand, including heat waves and winter storms.
To attain reliability, we’ll need to innovate superior zero-emissions storage solutions for short-term use, such as home batteries charged by solar panels. We’ll also need grid-scale solutions to hold power for weeks or months, to dispatch on demand in emergencies.
For new technologies to compete, they must at minimum match the costs of their fossil fuel counterparts: 2 cents per kilowatt hour for baseload power and 8 cents for peak power.
Data for KR 9.2 is sourced from IRENA’s Renewable Power Costs survey, which updates annually.
Among renewable energy sources, solar power has shown the steepest price decline since 2010: