How many TWh of electricity storage are there?

Today, an estimated 4.67 TWh of electricity storage exists. This number remains highly uncertain, however, given the lack of comprehensive statistics for renewable energy storage capacity in energy rather than power terms.

What is the wholesale cost of electricity?

The wholesale cost of electricity is the price that suppliers (like Octopus Energy and all others) have to buy the energy at. They then add a variety of costs (distribution fees etc) before arriving at a price they charge the end customer. Obviously the price they sell at needs to be higher than they bought at (plus fees) to make a profit.

How much does a storage tank cost?

Storage tank costs are tabulated in this data-file, averaging $100-300/m3 for storage systems of 10-10,000 m3 capacity. Costs are 2-10x higher for corrosive chemicals, cryogenic storage, or very large/small storage facilities. Some rules of thumb are outlined below with underlying data available in the Excel.

How much does underground gas storage cost?

Storage costs are lowest for underground gas storage, with a median $0.4/m3 of storage capacity. The key reason is scale. The average facility in our database can store over 1bcm of gas. Methodology.

How much does hydrogen storage cost?

Higher capex may be worthwhile to install higher grade tanks that minimize boil-off and improve energy efficiency. Large-scale hydrogen storage would likely be higher cost than LNG storage, in our view, and the median small-scale facility for cryogenic or ultra-compressed hydrogen storage is estimated to cost $8,000/m3.

What is wholesale energy pricing?

The turbulent nature of the energy market though 2021 and 2022 put wholesale energy pricing bang in to the spotlight. The wholesale cost of electricity is the price that suppliers (like Octopus Energy and all others) have to buy the energy at.