How much is the operation and maintenance fee for electrochemical energy storage projects

What is the cost of energy storage?

The cost of energy storage varies by technology. According to a 2018 report by RedT Energy Storage, the cost of their Gen 2 machines starts at $490/kWh.

Which energy storage technologies are included in the 2020 cost and performance assessment?

The 2020 Cost and Performance Assessment provided installed costs for six energy storage technologies: lithium-ion (Li-ion) batteries, lead-acid batteries, vanadium redox flow batteries, pumped storage hydro, compressed-air energy storage, and hydrogen energy storage.

How are battery energy storage costs forecasted?

Forecast procedures for battery energy storage costs are described in the main body of this report. C&C or engineering, procurement, and construction (EPC) costs can be estimated using the footprint or total volume and weight of the battery energy storage system (BESS). For this report, volume was used as a proxy for these metrics.

How much does energy storage cost in 2025?

The red diamonds in the figure provide a forecasted cost for each energy storage technology for the year 2025 on a $/kWh-yr basis. Pumped storage is forecasted to cost $19/kWh-yr in 2025 when compared on an energy basis using 2018 values.

How are battery operations & maintenance costs calculated?

Battery operations and maintenance (O&M) costs were obtained from a relatively smaller number of sources and kept constant across all chemistries. Cost and performance data were obtained from literature, conversations with vendors, and responses from vendors to questionnaires distributed by the research team.

What is the cost of pumped storage?

Pumped storage, when compared on an energy basis, offers a very low cost of $19/kWh-yr using 2018 values, as shown in Figure 5.3. This cost is significantly lower than that of battery storage technologies.