Let's parse the 2023 battery storage landscape: lithium pack LCOS for 4-hour systems fell to $132/MWh, utility-scale BESS capex dropped 22% to $140/kWh, unsubsidized residential storage sits at $300-500/MWh, flow batteries are projected to hit $100/MWh .
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In this technical article we take a deeper dive into the engineering of battery energy storage systems, selection of options and capabilities of BESS drive units, battery sizing considerations, and other battery safety issues.
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The interactive figure below presents results on the total installed ESS cost ranges by technology, year, power capacity (MW), and duration (hr).
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In 2023, NextEra Energy Resources had a record year for origination, adding approximately 9,000 MW of new renewables and battery storage projects to its backlog.
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