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Battery storage costs have evolved rapidly over the past several years, necessitating an update to storage cost projections used in long-term planning models and other activities. This work documents the development of these projections, which are based on recent publications of storage costs.
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.
Battery cost projections for 4-hour lithium-ion systems, with values relative to 2024. The high, mid, and low cost projections developed in this work are shown as bold lines. Published projections are shown as gray lines. Figure values are included in the Appendix.
By definition, the projections follow the same trajectories as the normalized cost values. Storage costs are $147/kWh, $234/kWh, and $339/kWh in 2035 and $108/kWh, $178/kWh, and $307/kWh in 2050. Costs for each year and each trajectory are included in the Appendix, including costs for years after 2050. Figure 4.
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He added that Penang Port is exploring the possibility of setting up solar panels on stilts on shallow water pockets in its premises, “like a solar farm”. On the other hand, he said the global cruise business is expected to “go fully shore-power” by 2030.
The Penang government is assessing several strategic locations, including dams and coastal water bodies, to implement floating solar projects as part of efforts to strengthen its Renewable Energy (RE) sources. — NSTP/GHAZALI KORI Get breaking news fast — follow us on WhatsApp and Telegram.
He said that land-based solar farms were not ideal for Penang due to the scarcity and high value of available land. Therefore, he said, installing solar panels on water surfaces was seen as a more practical alternative. "Floating solar is a real possibility for Penang because we are surrounded by water.
The Star has learnt that this entails creating a solar farm that floats on a sheltered quarter of Penang’s harbour stretching over 4ha, the size of three World Cup football fields. On a sunny day, it is expected to churn out 30 megawatts of electricity, which theoretically will be enough for 6,000 homes.
The Project located within the Mohammed Bin Rashid Al Maktoum Solar Park, about 50km south of the city of Dubai to be commissioned in phases starting August 2027. The power generated by the Project will be purchased by DEWA under a long-term Power Purchase Agreement (PPA).
The Plant will have an aggregate capacity of 1,600 MWac up to 2000 MWac in Solar Photovoltaic and 1,000 MW in battery storage. The tender process will be able to select a suitable developer/developers or developer consortium/consortia to share ownership of project company/companies to be incorporated in accordance with Dubai and UAE laws.
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