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 .
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 become more flexible with grid-scale electricity storage, in addition to supplying the grid quickly when power needs surge. Currently, power plant operators are discouraged 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.