Applications: Battery Energy Storage Systems (BESS)

Average Project Duration Continues To Rise AVERAGE BESS DURATION HOURS BY REGION1

GLOBAL AVERAGE PROJECT DURATION HOURS2

Storage duration is defined as the time to discharge a batteryʼs rated energy at its rated power - CRate is the inverse of duration Average duration of BESS Projects has increased 33% from 1.8 hours in 2020 to 2.4 hours in 2024 This is driven primarily by the shift from NMC to LFP chemistry, as well the declining cost of energy storage on per-kWh-basis, as based on growing use cases and markets that favor longer duration with derating factors

Sources: 1 Rho Motion as discussed in Energy Storage News; 2 Compiled by PowerSwitch, based on publicly available data from BNEF and Wood Mackenzie: 2020 Cumulative), 2020, 2021, 2022, 2023, 2024

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