United States grid-scale energy storage pricing 2023

This report analyses the cost of lithium-ion battery energy storage systems (BESS) within the United States grid-scale energy storage segment, providing a 10-year price forecast by both system and tier one component. An executive summary of major cost drivers is provided for reference, reflecting both global and regional market dynamics that may impact capital costs during the outlook period. Lithium Iron Phosphate (LiFePO4) batteries are the focus of the report, reflecting the stationary BESS market’s movement away from Nickel Manganese Cobalt (NMC) chemistries. The pricing outlook for NMC 811 BESS is provided as a reference within this report. This report is published on an annual basis, with an abridged midterm pricing report provided in between updates. Pricing dynamics for European and Asia-Pacific grid-scale markets are also covered in separate reports.