Wood Mackenzie finds four hour battery storage now cheaper than gas peaking in all 43 modelled markets
By Eve
Wood Mackenzie's global levelised cost of electricity report shows four hour battery storage has become less expensive than open cycle gas turbines across all 43 markets where both technologies were modelled. In the Middle East and Africa, four hour storage is forecast to fall a further 33% to US$80/MWh by 2035, while China remains the global storage cost benchmark at more than 55% below the rest of Asia Pacific average. Single axis tracker solar is now the lowest cost new build technology in 43 of 48 modelled markets, with solar LCOE in Saudi Arabia and the UAE on track to fall below US$20/MWh by 2033.
Why it matters
The cost crossover between battery storage and gas peaking plants reshapes the business case for grid infrastructure and charging site energy management, as cheaper storage enables CPOs to buffer demand peaks and reduce grid connection costs. Falling solar and storage costs in key EV growth markets like China and the Middle East improve the economics of renewable powered charging networks.
Source
- Original title
- “Wood Mackenzie: four-hour battery storage now beats gas peaking on cost globally”
- Published
- 8 October 2026
- Updated
- 10 October 2026
- Also covered by
- techcrunch.com
In this story
- Topic
- Grid & Energy
- Place
- Global
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