cost of energy storage decline
The cost of installing energy storage systems is expected to decline 41 percent over the next five years as key components get cheaper, according to a report by GTM Research. The cost of installing energy storage systems is expected to decline 41 percent over the next five years as key components get cheaper, according to a report by GTM Research. Balance-of-system costs, including hardware, labor and customer acquisition, will fall below $400 a kW by 2020, from an average of $670 per kW now for grid-scale storage systems, GTM said in a report released on Jan. 4.