Environment & Climate
Battery storage costs fall below gas turbines across global power markets
Hacker News reports that battery installations now undercut gas peaking plants across 43 modeled markets worldwide.
The short version
- A Wood Mackenzie study found that four-hour battery storage is now cheaper than open-cycle gas turbines across all 43 modeled markets.[Hacker News]
- Analyst Ahmed Jameel Abdullah attributed the shift to turbine shortages and fuel volatility raising gas costs while battery output expands.[Hacker News]
- China leads global cost benchmarks, while Middle East and Africa storage costs are projected to decline 33% by 2035.[Hacker News]
Key facts
- Four-hour battery storage is less expensive than open-cycle gas turbines across all 43 markets evaluated by Wood Mackenzie.[Hacker News]
- Ahmed Jameel Abdullah reported that equipment shortages and fuel volatility are elevating gas peaking costs as battery manufacturing grows.[Hacker News]
- Storage costs for four-hour batteries in the Middle East and Africa are projected to drop 33% to $80 per megawatt-hour by 2035.[Hacker News]
- China serves as the international cost benchmark for storage, sitting over 55% below the average for the rest of the Asia Pacific region.[Hacker News]
What remains uncertain
- The pace of future storage cost declines relies on forward-looking projections extending through 2035.[Hacker News]
Sources
Outlet counts describe coverage, not independent confirmation. Reports may share a wire service or original source.