<
https://reneweconomy.com.au/they-solve-the-problem-leading-storage-developer-says-battery-costs-have-plunged-70-pct-in-two-years/>
"Brookfield Renewables, the owner of Australia’s most successful developer of
large scale battery projects, says that costs continue to fall and have now
plunged between 65 and 70 per cent over the last two years.
Brookfield bought Neoen in an $11 billion deal after being thwarted in its
efforts to buy Australia’s biggest utility, Origin Energy. Neoen built
Australia’s, and the world’s, first big battery at Hornsdale and remains the
biggest single investor in battery storage the country.
In a market briefing three months ago, Brookfield Renewables CEO Connor Teskey
said battery storage costs had fallen 60 per cent.
In his latest briefing, Teskey put the fall in battery storage costs over the
last 24 months at 65-70 per cent, and says it remains the world’s fastest
growing technology, and compelling for both stand-alone and hybrid projects.
“The value proposition for batteries in today’s market is very compelling for
(wind and solar) off-takers in terms of giving them a load profile that better
matches their 24/7 demand curve,” he told analysts. “We’re seeing it therefore
alongside existing projects in new developments and on a standalone basis.”
But there are also significant opportunities in standalone battery projects.
“The rationale for this is very simple. They remove grid congestion, they don’t
add to it, so they solve that problem, and they are very quick to deploy.
“Further, this opportunity has been driven by the fact that CapEx for batteries
and energy storage has come down 65%-70% over the last 24 months, making these
investments very economic and financially attractive.”
Teskey’s remarks were not focused only on Australia, but the company’s global
portfolio, which includes the Americas, Asia and Europe."
Cheers,
*** Xanni ***
--
mailto:xanni@xanadu.net Andrew Pam
http://xanadu.com.au/ Chief Scientist, Xanadu
https://glasswings.com.au/ Partner, Glass Wings
https://sericyb.com.au/ Manager, Serious Cybernetics
