Something For The Granddaughters: Projected Cost Of Solar-Plus-Battery Generated Electricity -- January 11, 2015
Cost of electricity:
From Forbes:
“To support grid defection, we believe the size of the battery needs
to be very large, something akin to two-months’ worth of consumption,”
Moody’s concluded. “The cost of electricity using that much storage
would cost around 552¢ per kilowatt hour (kWh) on a levelized cost of energy basis.”
More specifically, the batteries would contribute about 535¢ per kWh
to the total costs and the solar PV system would contribute the
remaining 17¢ per kWh. To put this in perspective, the average retail
rate of electricity for residential customers in Hawaii is about 36¢ per
kWh.
The capital cost of the batteries included in a residential off-grid
solar plus batteries system currently cost about $500 per kWh, according
to Moody’s. To achieve cost parity with the grid, the capital cost of
batteries would need to decline to about $20 per kWh, based on Moody’s
calculations.
Absent a major technological breakthrough, battery costs are likely
to remain above $20 per kWh for several decades. In 2012, the U.S.
Energy Information Administration projected that battery costs would
fall as low as $135 per kWh by 2035 in the best case scenario.
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