jsight
9 hours ago
Can someone explain the economics of this to me?
As I understand it, battery storage isn't cheaper than just base load generation (nuclear, combined cycle). However, it sounds like natural gas peaker plants are significantly more expensive. Can that be quantified? ~80% more, or more than $.03kwh difference? Are the levelized costs of battery storage, including financing, now less than this? Are incentives a part of it?
I'm guessing the solar aspect plays into this as well, as a large plant like that likely produces at times when prices are relatively cheap. It'd be really to see it all quantified.
energy123
8 hours ago
Battery storage doesn't need to be cheaper than nuclear on a kWh vs kWh basis, because you only need about 5 hours storage to get to 98% renewables.
The combination of solar and wind and battery storage needs to be cheaper, and it is. The CSIRO, who factored in all costs on both sides, found that it's about 50% of the price of new nuclear in Australia. This conclusion may vary in places with less sun or an existing nuclear industry with a track record of building cheap plants quickly.
Note also that a nuclear grid will also need battery storage because demand itself is variable. Unless you overbuild nuclear and run at a low capacity factor, but that carries with it its own additional costs.
s1artibartfast
8 hours ago
I dont have the data you are looking for, but my take on California is that cost is largely an afterthought. regulatory pressure and regulatory costs drive up or eliminate the alternatives, and power companies have a captive market. As a result, I'm paying $0.50/kwh with a large green component, and have no choice on the matter.
My only alternative is to try and reduce my use of the grid, which also means going solar.
jsight
7 hours ago
One of the most compelling arguments that I hear from the anti-renewables types is that they do it in California and it doesn't work.
I think there's more to it than that, though. TX has seen tremendous growth in renewables, and grid pricing is excellent there from the prices that I've seen.
energy123
6 hours ago
> TX has seen tremendous growth in renewables, and grid pricing is excellent there from the prices that I've seen.
Kansas and Iowa are 40-60% wind and have lower prices than the national average: https://www.eia.gov/electricity/monthly/epm_table_grapher.ph...
energy123
8 hours ago
There's private energy developers building multi-GW of utility scale battery storage in Texas at the moment.
revscat
7 hours ago
According to [1] “solar-plus-storage energy projects are already cheaper than new fossil fuel power plants in many parts of the world, and costs are poised to fall further.”
There are links provided there that may answer your questions in more detail.
[1] https://www.vox.com/climate/372852/solar-power-energy-growth...