The cost estimates are for a 4 hour storage system - not enough for diurnal let alone seasonal storage. Furthermore, actually attempting to build storage systems at grid scale would cause battery prices to skyrocket. Even just 4 hours of electricity supply for the world works out to 10,000 GWh of batteries (global electricity demand is ~60 TWh per day). In 2023, 680 GWh of batteries were produced [1]. If you were to try and build 10,000 GWh worth of battery storage you'd buy up all the batteries on the market, causing the price to skyrocket. And even if you literally bought every single battery produced in 2023 you still wouldn't have 1/10th the batteries required to provision just four hours of storage (and not to mention you'd kill 100% of EV production in the process). The scale between the batteries produced and the amount of batteries required to deliver even small amounts of storage are vast.
And we're not even talking about electrifying other fossil fuels uses like heating, transportation, etc. That's going to make electricity demand even larger.
And we're not even talking about electrifying other fossil fuels uses like heating, transportation, etc. That's going to make electricity demand even larger.
1. https://autovista24.autovistagroup.com/news/which-manufactur...