The Department of Energy released its cost analysis for 11 technologies one day before announcing several funding and innovation opportunities for long-duration storage developers.
- The levelized cost of 11 long-duration storage technologies in 2030 is expected to exceed the U.S. Department of Energy’s target of $0.05/kWh, necessitating further innovation, DOE’s Office of Electricity said in an Aug. 6 report.
- Implementing the most cost-effective innovation recommendations in the Long Duration Storage Shots Technology Strategy Assessments released by DOE last year could drop the levelized cost of pumped hydropower, compressed air storage and flow batteries below $0.05/kWh by 2030 while achieving dramatic cost reductions for lead-acid and sodium-ion batteries, the report said.
- The findings coincided with DOE’s Aug. 7 announcement of several initiatives to promote long-duration storage development, including a $100 million funding opportunity for stationary and non-lithium applications and a $75 million research facility at the Pacific Northwest National Laboratory campus in Richland, Washington.