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A study by Wood Mackenzie found that four-hour battery storage is less expensive than open-cycle gas turbines in all 43 markets covered by the survey. This comes as electricity demand rises due to the expansion of data centers and artificial intelligence, driving up gas turbine prices and increasing the appeal of storage.
LG Energy Solution has begun producing LFP cells at its Michigan plant to supply Tesla’s energy storage systems, while continuing to manufacture NMC cells for Toyota vehicles. The shift reflects slowing growth in the electric vehicle market compared with rising demand from artificial intelligence data centers and power grids.
Energy storage projects with a total capacity of approximately 750 gigawatts are in queues for connection to the U.S. grid, but the average wait has reached five years, while South Korea’s DeltaX announced the construction of a $141 million plant in Georgia. The figures reveal strong growth in storage, but also highlight infrastructure bottlenecks and grid reliability risks.