Four-Hour BESS Beats Gas Peaking on Cost in 43 Markets: Wood Mackenzie

Wood Mackenzie finds four-hour battery energy storage systems (BESS) are now more cost-competitive than gas turbines for peaking power in 43 markets, driven by rising gas turbine costs and cheaper battery manufacturing. The report highlights solar PV as the lowest-cost new-build generation in most markets, and forecasts further cost declines in battery storage and renewables through 2060.

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