Falling battery prices and the growth of variable electricity generation are fuelling an interest in the development of Battery Energy Storage Systems (BESS), but project developers need to manage the potential fire risk.
Lithium-ion battery perkWh costs dropped 85% in the period 2010-2018 and are expected to further halve in cost by 2030, according to Bloomberg NEF. Infrastructure project developers and investors are optimistic about the application of this technology throughout the electricity grid as it is a near term, scalable way to ‘flatten the curve’ of intermittent electricity generation, allowing for a cleaner energy future. The US Energy Information Administration notes that in the United States alone, large scale battery storage projects will contribute 10,000 MW to the grid between 2021 and 2023, ten times the capacity installed in 2019.
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