Market Report
Asia Pacific (APAC) grid-scale energy storage pricing 2024
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Report summary
This report analyses the cost of lithium-ion battery energy storage systems (BESS) within the APAC grid-scale energy storage segment, providing a 10-year price forecast by both system and tier one component. The report covers major APAC energy storage markets, including China, Australia, South Korea and Japan. Most of these markets are moving towards Lithium Iron Phosphate (LFP) battery chemistry, except South Korea, where use of Nickel Manganese Cobalt (NMC) chemistry will persist in the medium term, given the domestic manufacturing base.
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