GoKawiilWood Mackenzie: Four-hour battery storage now cheaper than gas peakers in all 43 markets studied
A new Wood Mackenzie levelized cost of electricity report finds four-hour battery storage beats open-cycle gas turbines on cost in every one of 43 markets analyzed worldwide. In the Middle East and Africa, storage costs are projected to drop a further 33% to $80/MWh by 2035, while China remains the cheapest storage market, over 55% below the rest of Asia Pacific. Separately, single-axis tracker solar is now the lowest-cost new-build power source in 43 of 48 markets studied, with onshore wind leading in the remaining five.