Description

TABLE OF CONTENTS

Executive summary (4)

1. New regulations and initiatives discussed this month (5)

1.1. Australia & Oceania (5)

1.2. North America (5)

2. Project updates and announcements (6)

2.1. Overview of the 2023 and 2024 markets for utility-scale energy storage projects (6)

2.2. Projects announced or contracted this month (6)

2.3. Projects commissioned this month (8)

2.4. Tenders this month (9)

3. Focus of the month: Evolution of batteries prices, cost breakdown and allotment options (13)

3.1. Cost of battery in energy storage projects (13)

3.2. Factors that influence battery prices (14)

3.3. Allotment strategies (20)

TABLE OF FIGURES

Figure 1 - Utility-scale energy storage projects announced/contracted and commissioned in 2023 and 2024 (ongoing) (6)

Figure 2 – Evolution of the average unit cost (€/kWh) of battery over the years for 50 MW/ 100 MWh project (13)

Figure 3 – Trends in the unit cost of battery (€/kWh) in 2024 according to the project's size (14)

Figure 4 - Lithium carbonate prices evolution (CNY/mt) (15)

Figure 5 - Yearly average prices of lithium (€/mt) (16)

Figure 6 - Electric cars sales and battery demand for electric cars over the years (17)

Figure 7 - Total volume of stationary storage projects (in MW) over the years (18)

Figure 8 - Development of gigafactories worldwide (number of units and total capacity) (19)

Figure 9 - Indicative cost breakdown of a project (23)