Wood Mackenzie says four-hour storage beats gas globally

Wood Mackenzie has published a new global report on levelized cost of electricity showing four-hour battery storage is now cheaper than open-cycle gas turbines in all 43 modeled markets where both technologies were compared.

• Four-hour storage is now less expensive than open-cycle gas turbines in all 43 markets modeled; in the Middle East and Africa, storage is forecast to fall 33% to US$80/MWh by 2035.
• The report says single-axis tracker solar is the lowest-cost new-build technology in 43 of 48 modeled markets, while in North America gas generation investment is entering a supply deficit cycle through the late 2030s driven by data center load growth.