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Energy Storage Costs Expected to Slide 41% by 2020, GTM Says

  • Balance-of-system costs seen sliding below $400 a kilowatt
  • Storage systems currently cost about $670 a kilowatt

The cost of installing energy-storage systems is expected to decline 41 percent over the next five years as key components get cheaper, according to a report by GTM Research.

Balance-of-system costs, including hardware, labor and customer acquisition, will fall below $400 a kilowatt by 2020, from an average of $670 per kilowatt now for grid-scale storage systems, GTM said in a report released Monday.