The cost of battery energy storage could fall by as much as 70 % by 2030 as new solar battery technology and other advances drive prices down , according to a report by the World Energy Council . The variable supply of renewable sources such as wind and solar would be more flexible with grid - scale electricity storage , in addition to supplying the grid quickly when power shortages arise . Currently , power plant operators are prevented from deploying them on a commercial scale by the high cost of battery systems . Storage options range from pumped hydroelectric storage, which accounts for most of grid-scale energy storage capacity worldwide available now, to newer, higher technology chemical approaches including lithium ion and sodium sulphur batteries. " Solar storage will become more competitive , " the report states , and " wind storage more attractive . " Replacing old storage systems and improving technology will also reduce the demand for oil . Pumped hydroelectric storage will have the lowest cost reduction , followed by compressed air energy storage .
The cost of battery energy storage could fall by as much as 70 % by 2030 as new solar battery technology and other advances drive prices down , according to a report by the World Energy Council . The variable supply of renewable sources such as wind and solar would be more flexible with grid - scale electricity storage , in addition to supplying the grid quickly when power shortages arise . Currently , power plant operators are prevented from deploying them on a commercial scale by the high cost of battery systems . " Solar storage will become more competitive , " the report states , and " wind storage more attractive . " Replacing old storage systems and improving technology will also reduce the demand for oil . Pumped hydroelectric storage will have the lowest cost reduction , followed by compressed air energy storage .