Understanding Average unit price of energy storage
The projections are developed from an analysis of recent publications that include utility-scale storage costs. The suite of publications demonstrates wide variation in projected cost reductions for battery storage over time.
The projections are developed from an analysis of recent publications that include utility-scale storage costs. The suite of publications demonstrates wide variation in projected cost reductions for battery storage over time.
The average unit price of energy storage systems in 2023 has continued the trend observed over the past decade, with a notable decline in costs. As of this year, the unit price is approximately $110 to $130 per kilowatt-hour for lithium-ion battery systems.
Additional storage technologies will be added as representative cost and performance metrics are verified. The interactive figure below presents results on the total installed ESS cost ranges by technology, year, power capacity (MW), and duration (hr).
The 2022 Cost and Performance Assessment provides the levelized cost of storage (LCOS). The two metrics determine the average price that a unit of energy output would need to be sold at to cover all project costs inclusive of taxes, financing, operations and maintenance, and others.
In 2025, the average energy storage cost ranges from $200 to $400 per kWh, with total system prices varying by technology, region, and installation factors.
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