New research by Imperial College London has calculated that lithium-ion batteries will be the cheapest way to store electricity by 2050. Published on Wednesday 9 January, the report calculated the cost of storing energy with different technologies, including batteries and pumped-storage hydroelectricity, and then projecting this cost into the future. It was calculated that, while pumped-storage hydroelectricity is currently the cheapest form of storage, the cost of lithium-ion batteries will continue to decrease over time. Lead Researcher Oliver Schmidt, from the Grantham Institute and the Centre for Environmental Policy at Imperial, said: “Our model is the first to project full energy storage costs into the future, allowing predictions of which technology will be most competitive in a particular application at a particular time.”

Imperial College London