Applications: Stationary Energy Storage
Pages 182–232 (51 pages)
Text on page 188
BESS Project Cost Trends - Massive Decline Continues with 31% YoY Drop Prices for key components DCBlock + PCS MVT EMS) vary greatly regionally and based on system size. As shown on the right, depending on the built location prices for the AC Block range from $63/kWh for large products in China, to $120/kWh for smaller projects in the EU.
2025 KEY COMPONENT COSTS$/kWh DCBLOCK PCS MVT EMS 1
Turnkey BESS costs continue to plummet, dropping another 31% from 2024 2025, landing at $117/kWh (global weighted average across all markets and durations) - almost 70% down since 2022 In 2025 the same CapEx will build over 3x the system size (by MWh) than in 2022
TURNKEY BESS COST TREND 20172025 $ / kWh) 2
Source: Data from 1 Benchmark Mineral Intelligence Distinguished Partner), 2 BloombergNEF Distinguished Partner),
Extracted from the PDF; charts and images may read imperfectly.
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