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As the market evolves, we expect a relatively small set of energy-storage companies to win big, taking share away from less cost-effective rivals. In this article, we look at how the cost profile of energy-storage systems is changing and what companies in the sector can do to boost their chances of success.
The authors wish to thank Jesse Noffsinger, Matt Rogers, Frederic Saggini, Giulia Siccardo, Willem van Schalkwyk, and Amy Wagner for their contributions to this article. The costs of energy-storage systems are dropping too fast for inefficient players to hide.
The costs of energy-storage systems are dropping too fast for inefficient players to hide. The winners in this market will be those that aggressively pursue and achieve operational improvements. Energy-storage companies, get ready. Even with continued declines in storage-system costs, the decade ahead could be more difficult than you think.
There is also a plausible best-in-class scenario in which market-leading energy-storage manufacturers and developers deliver a step change in cost improvement: additional process-efficiency gains and hardware innovations could reduce the cost of an installed system by more than 70 percent (Exhibit 2).
Battery-pack costs decline by more than 50 percent by 2025 in the base case as global competition intensifies, leading to larger-scale manufacturing, consolidation, improvements in manufacturing processes and technology, and commoditization of products.
As our colleagues have written, some commercial uses for energy storage are already economical.
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One of the biggest challenges currently facing the energy storage industry is fierce market competition, and the downward trend in prices is difficult to reverse.
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set of energy-storage companies to win big, taking share away from less cost-effective rivals. In this article, we look at how the cost profile of energy-storage systems is changing and what …
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The low-cost future of the energy-storage market will make for a tough competitive environment—but a rewarding one for players that make big improvements in performance. Here is how companies along the value chain …
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