Ember provides the latest capex and Levelised Cost of Storage (LCOS) for large, long-duration utility-scale Battery Energy Storage Systems (BESS) across global markets outside China and the US, based on recent auction results and expert interviews. 1. All-in BESS projects now cost just $125/kWh as of October 2025 2.
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.
A second year of dramatic price falls means batteries are now cheap enough to make dispatchable solar economically feasible. With the cost of storing electricity at $65/MWh, storing 50% of a day's solar generation for use during the night-time hours adds $33/MWh to the total cost of solar. The global average price of solar in 2024 was $43/MWh.
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.
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Executive Summary In this work we describe the development of cost and performance projections for utility-scale lithium-ion battery systems, with a focus on 4-hour duration systems. The
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A second year of dramatic price falls means batteries are now cheap enough to make dispatchable solar economically feasible. With the cost of storing electricity at $65/MWh, storing 50%
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