EVOLVING COST AND PERFORMANCE DYNAMICS OF BATTERY STORAGE FOR FUTURE ENERGY SYSTEMS
DOI:
https://doi.org/10.67772/nagavh40Keywords:
battery energy storage, capital cost, energy systems, cost–performance analysis, renewable energy integrationAbstract
Battery storage is increasingly important for improving flexibility and supporting renewable integration in future energy systems, yet its deployment depends on evolving economic and technical characteristics. This study evaluated historical, contemporary, and projected cost and performance dynamics across six battery storage technologies using longitudinal techno-economic data spanning 2015–2050. Capital expenditure, efficiency, lifetime, and related operational indicators were assessed through descriptive statistics, temporal and cross-technology comparisons, cost–performance correlations, and technology-adjusted regression models. The results showed significant long-term reductions in capital costs, with adjusted annual declines of 4.94% for USD/kWh and 1.61% for USD/kW. Lithium-ion LFP and NMC exhibited comparatively favorable cost-efficiency characteristics and high efficiency, while vanadium redox-flow demonstrated lower efficiency but relatively long lifetime. Significant inverse associations were identified between USD/kW capital cost and efficiency and between USD/kWh capital cost and lifetime. Historical and projected models further demonstrated variation in the magnitude of cost reduction across periods. These findings indicate improving economic competitiveness of battery storage while highlighting removal.
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