> Studies have shown that for renewables to become the source of 90% to 95% of all electricity, the cost of energy storage must be below US$150/kWh. Modern lith

> Studies have shown that for renewables to become the source of 90% to 95% of all electricity, the cost of energy storage must be below US$150/kWh. Modern lithium-ion systems are still sitting around US$350/kWh. This is so, so far off the mark. The average price of electricity in the US was 16 cents per kWh [1]. In the Northeast it is more, it can go as high as 32 cents in Connecticut. Let's say you buy such batteries, for $150/kWh, charge in the summer and sell in the winter. And let's say you charge for free and sell for a whopping $1/kWh. And let's say you have no other operating expenses. Great, you only need 150 years to break even. Batteries need to get at least 100 times cheaper to make sense for seasonal storage. [1] https://www.eia.gov/electricity/monthly/epm_table_grapher.php?t=epmt_5_6_a https://www.eia.gov/electricity/monthly/epm_table_grapher.ph...