Battery Storage
CAPEX Definition
The literature review does not enumerate elements of the capital cost of lithium-ion batteries (Cole, Wesley & Frazier, A. Will, 2019). However, the NREL storage cost report does detail a breakdown of capital costs with the actual battery pack being the largest component but significant other costs are also included. This breakdown is different if the battery is part of a hybrid system with solar PV. These relative costs for utility-scale standalone battery and battery + PV are demonstrated in the figure below (Fu, Remo, & Margolis, 2018).
References
The following references are specific to this page; for all references in this ATB, see References.Cole, Wesley, & Frazier, A. Will. (2019). Cost Projections for Utility-Scale Battery Storage (No. NREL/TP-6A20-73222). Retrieved from National Renewable Energy Laboratory website: https://www.nrel.gov/docs/fy19osti/73222.pdf
Fu, R., Remo, T. W., & Margolis, R. M. (2018). 2018 U.S. Utility-Scale Photovoltaics-Plus-Energy Storage System Costs Benchmark (No. NREL/TP-6A20-71714). https://doi.org/10.2172/1483474