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This report provides the latest, real-world evidence on the cost of large, long-duration utility-scale Battery Energy Storage System (BESS) projects. DOE's Energy Storage Grand Challenge supports detailed cost and performance analysis for a variety of energy storage technologies to accelerate their development and deployment The U. Cole, Wesley and Akash Karmakar. These peaking units are needed mainly for reliability. They are far less efficient than other generators, so they tend to run in fewer hours only when peaking capacity is eeded and/or when market prices are sufficiently high. All-in BESS projects now cost just $125/kWh as. ctricity storage range from –3% to 30%. The highest rates belong to technologies, lithium ion has the lithium-ion cells (30%), packs (24%), and utility-scale strongest potential for cost reductions. systems (19%); the lowest to pumped hydro plants In contrast, investment cost for (–3%).