Utility Dive: According to GTM’s new report, the costs of storage are dropping at a rate that will allow it to start being competitive with new peaking plants in about five years. But ten years from now, energy storage will “almost always” win out over the cost of a new peaking plant.
It could take years or even decades for energy storage to compete with the GTM-estimated 120 GW of existing peakers, Ravi Manghani, director of energy storage at GTM Research, said during a webinar to discuss the report. The existing plants have lower operating costs because they have largely paid off their debt.
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