A solar-plus-storage system costs about $25,000–$35,000, depending on the size
The PV-plus-battery technology uses the same 10 resource categories as the utility-scale PV technology. See the Resource Categorization section of the utility-scale PV page for a description of these 10 resource categories.
Technology innovation scenarios for PV-plus-battery are a combination of utility-scale PV and utility-scale battery technology innovation scenarios (e.g., the Conservative Scenario for PV-plus-battery technology uses the Conservative Scenarios of both utility-scale PV and utility-scale battery technologies). For details, see the scenario descriptions for utility-scale PV and the scenario descriptions for utility-scale battery storage.
Components of a DC-coupled PV-plus-battery system
Source:(Ramasamy et al., 2021)
This section describes the methodology to develop our reported CAPEX, O&M, and capacity factor values. For assumptions that are standardized for all technologies in the 2022 ATB, seelabor cost,regional cost variation,materials cost index,scale of industry,policies and regulations, andinflation.
Utility-scale PV-plus-battery projections are driven primarily by CAPEX cost improvements, along with improvements in energy yield, operational cost, and cost of capital (for the Market + Policies Financial Assumptions Case). For more information, see the Financial Cases and Methods page.
Though CAPEX is one driver of cost reductions over time, R&D efforts continue to focus on other areas to lower the cost of energy from utility-scale PV-plus-battery, such as longer system lifetime and improved performance. Three 2030 projections are developed for scenario modeling as bounding levels:
A primary motivation for utility-scale PV-plus-battery systems is the potential for the battery component to qualify for the federal investment tax credit (ITC). The battery component''s ability to qualify for the ITC (partially or fully) affects both its costs and its capacity factor, so we briefly describe its application here.
We assume 75% of the energy used to charge the coupled 4-hour battery storage (on an annual basis) is derived from the local PV, which corresponds to the minimum charging requirement for the battery component''s ITC qualification. We assume only partial (as opposed to full) ITC qualification in order to represent a more realistic capacity factor over the lifetime of a project—ITC-related operational requirements apply only to the first 5 years of operations, after which charging from the grid may represent an important source of value. Following from this assumption, LCOE projections under the Market + Policies Financial Assumptions Case reflect capital cost savings and financing terms shown in the following figure and capacity factors that follow from our charging assumptions.
ITC qualification of PV-plus-battery systems
MACRS is modified accelerated cost recovery system.
Source:(Elgqvist et al., 2018)
The 2022 ATB assumes base year estimates and future projections have fixed component sizing that is consistent with the description in the Representative Technology section. Plant costs are represented with a single estimate per innovation scenario because CAPEX does not correlate well with solar resource. All cost values are presented in 2020 real USD.
In general, our cost assumptions for utility-scale PV-plus-battery are rooted in the cost assumptions for the independent utility-scale PV and 4-hour battery storage technologies. Therefore, our primary contribution is to capture the cost factors that are influenced by the coupling of utility-scale PV and battery technologies, including its influence on site preparation, land acquisition, hardware, installation labor, and interconnection and permitting costs, and other factors.
Base Year: The Base Year (2020) is based on Q1 2020 costs as reported in(Feldman et al., 2021). The 2021 cost estimate is developed using the bottom-up cost modeling method from the National Renewable Energy Laboratory''s (NREL''s) U.S. Solar Photovoltaic System and Energy Storage Cost Benchmark:Q1 2021(Ramasamy et al., 2021).
Components of CAPEX
Future Projections: Future projections of the CAPEX associated with our utility-scale PV-plus-battery technology combine the projections for utility-scale PV and utility-scale battery storage technologies (with 4-hour storage). The technological innovations achieved for utility-scale PV-plus-battery systems (by scenario) are the same as those achieved for utility-scale PV systems in the areas of module efficiency, inverter power electronics (including bidirectional battery inverters), and installation and hardware BOS efficiency improvements.
The cost declines of the LIB component in the PV-plus-battery systems are calculated using the relative cost declines between 2021 and 2030, by scenario, of the 4-hour battery storage CAPEX for utility-scale battery storage in the 2022 ATB (and 2050 for the Advanced Scenario). As with the utility-scale PV section, we assume each scenario''s 2050 CAPEX is the equivalent of the 2030 CAPEX of the scenario but one degree more aggressive, with a straight-line change in price in the intermediate years between 2030 and 2050. We also develop and model a scenario one degree more aggressive than the Advanced Scenario to estimate its 2050 CAPEX.
2030 and 2050 CAPEX by Scenario
More-aggressive scenarios reach given CAPEX sooner, as indicated by the asterisks and daggers.
The rated capacity in the denominator is reported in terms of the capacity of the shared central inverter, which sets the maximum AC power output of the plant.
Variable O&M costs for the battery component are likely to be nonzero because of the cycle degradation typical of LIB storage; however, all our assumed O&M costs are fixed in nature—not variable—which is consistent with those reported for independent battery storage. Items included in O&M costs are noted in the table below.
Components of O&M Costs
About Solar power plus storage cost
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