电池储能有多便宜？

How cheap is batterystorage? Ember provides the latest capex and Levelised Cost of Storage (LCOS) forlarge, long-duration utility-scale Battery Energy Storage Systems (BESS)across global markets outside China and the US, based on recentauction results and expert interviews. Published date: 11 December 2025Lead author: Kostantsa Rangelova About This report provides the latest, real-world evidence on the cost of large, long-durationutility-scale Battery Energy Storage System (BESS) projects. Drawing on recent auctionresults from Saudi Arabia, India and Italy, along with in-depth interviews with projectdevelopers, suppliers and analysts across global markets, it captures the mostup-to-date picture of battery capex and the Levelised Cost of Storage (LCOS) as ofOctober 2025. The analysis focuses on markets outside China and the United States,where competitive procurement of Chinese-manufactured equipment is reshapingglobal storage economics. Summary Ember’s assessment of storage costs as of October 2025, based on recentauctions in Italy, Saudi Arabia and India and on expert interviews, shows: ●All-in BESS project capex of $125/kWh.Across global markets outside Chinaand the United States, the total capex to build a long-duration (4 hours ormore) utility-scale BESS project is around $125/kWh, of which around $75/kWhis for the core equipment shipped from China and around $50/kWh to installand connect the battery. ●A levelised cost of storage (LCOS) of $65/MWh.An all-in capex of $125/KWhleads to a cost of $65/MWh to move electricity, based on the latest real-worldproject parameters. This low LCOS is not only the result of cheaper batteries —longer lifetimes, higher efficiencies and lower financing costs thanks to clearerrevenue models like auctions have all helped to push the LCOS down sharply. A second year of dramatic price falls means batteries are now cheap enoughto make dispatchable solar economically feasible. With the cost of storing electricity at $65/MWh, storing 50% of a day’s solargeneration for use during the night-time hours adds $33/MWh to the total cost ofsolar. The global average price of solar in 2024 was $43/MWh. Turning this cheapdaytime electricity into a dispatchable profile that is closer to an actual demandprofile, would therefore result in a total electricity cost of $76/MWh. After a 40% fall in 2024 in battery equipment costs, it’s clear we’re ontrack for another major fall in 2025. The economics for batteries areunrecognisable, and the industry is only just getting to grips with thisnew paradigm. Solar is no longer just cheap daytime electricity, solaris now anytime dispatchable electricity. This is a game-changer forcountries with fast-growing demand and strong solar resources. Kostantsa Rangelova Global Electricity Analyst, Ember 1. All-in BESS projects now cost just$125/kWh as of October 2025 Battery storage has moved past its infancy, driven by rapid factory scale-up,fierce competition and oversupply that has pushed costs sharply down. Acrossglobal markets outside China and the United States, the total capex to build alarge, long-duration utility-scale BESS project is around $125/kWh, comprising$75/kWh for the core equipment shipped from China and around $50/kWh forinstallation and grid connection. 1.1 Expert interviews and auction results suggest $125/kWhis the latest all-in BESS project capex Outside the US and China, a BESS project is now being built for around $125 perkWh all-in, with core equipment sourced from China and engineering,procurement and construction (EPC) services and grid connection included. Thisrepresents real-world project prices, derived from recent auction results in SaudiArabia, India and Italy, as well as interviews conducted by Ember in October 2025with experts working on BESS projects across global markets, including SaudiArabia, Italy, India, Australia, Mexico, Romania, Croatia, and Türkiye. 1.1.1 Core equipment costs around $75/kWh to deliver from China Core equipment - mainly the BESS enclosures, the Power Conversion System(PCS) and the Energy Management System (EMS) - costs around $75/kWh whendelivered from China, for countries with low import duties. This cost is per unit ofusable battery capacity. Manufacturers typically oversize the installed capacityby at least 10%, allowing them to guarantee a 0–100% state of charge operatingrange. The price of Lithium Iron Phosphate (LFP) battery cells for stationary energystorage applications has dropped toaround $40/kWh in Chinese domesticmarkets as of November 2025. These cells are further integrated into batteryenclosures, which house 5-6 MWh of cells in 20-foot containers. The enclosuresaccount for close to 90% of the $75/kWh core equipment cost for long durationprojects, with PCS and EMS costs making up around 10%. The $75/kWh applies to larger, four-hour or longer BESS projects. Smaller projectsmay not get such competitive quotes from Chinese manufacturers. Additionally,total equipment cos