While battery storage once revolutionized how we store power, it's now looking about as cutting-edge as a flip phone at a smartphone convention. Recent data shows lithium-ion installations grew only 12% last year compared to 33% for emerging alternatives [3]. The reality is a far more precarious balancing act. While these systems were once costly, the price of batteries has significantly decreased over the past decade, making energy storage. . Utility-scale lithium-ion battery energy storage systems (BESS), together with wind and solar power, are increasingly promoted as the solution to enabling a “clean” energy future. 1 Advocates argue that batteries can store surplus power from wind and solar generation and discharge it when needed. Over 40 gigawatt (GW) was added in 2023, double the previous year's increase, split between utility-scale projects (65%) and behind-the-meter systems (35%).
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