The cost of lithium-ion battery storage could be on track to fall from $10,000 per kilowatt-hour in the early 1990s to $100/kWh in 2019, according to a University of California/TU Munich study published in the journal Nature Energy. The dramatic cost reduction would be enough to make solar, wind, and storage projects cost-competitive with coal and natural gas on price alone. The achievement, however, may be endangered by a recent lack of investment for basic and applied research, particularly in the United States. Scientists have concluded that long-term R&D spending and innovation is crucial to cost reductions.
- World abandoning coal-fired electricity
- “It’s purely economic. The plant guys tried everything they could to keep it open, but it was a money loser. In a competitive market, you’ve got to take these steps. This is a coal plant operating in a market that’s flooded with cheap natural gas.”
- Economics, not regs., are waging a war on coal
- Xcel Energy to retire coal-fired plants, increase renewables
- Coal-fired power plant jobs continue to fade
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