$US51.59/kWh for a four hour battery

[Ken]

https://reneweconomy.com.au/watershed-m ... a-auction/

"This is causing issues for policy makers and market operators, who judge that some form of longer duration storage capacity – either in the form of pumped hydro, gas, or some other technology such as solar thermal or compressed air – is required to support the rapid rollout of renewables."

[Stig]

The knockout price was a bid of $US51.59/kWh for a four hour battery (the average was $US59c/kWh), which Energy Storage News says represents a 30 per cent drop from 2024 levels, and others side was a 15 per cent fall from recent record lows.

So is that 51 dollars or 51 cents and an average of 59 dollars or 59 cents?
I do wish journalists would take more care when quoting figures taken from other articles, the article he cites says:

Package 3 (4-hour systems): 2.5 GW/10 GWh, with the most competitive range of CNY 0.37–0.495/Wh ($0.051–$0.068), averaging CNY 0.4249/Wh ($0.059). The lowest bid of CNY 0.37/Wh ($0.051) represents a 30% drop from 2024 levels, setting a new industry record.

[Countrypaul]

The knockout price was a bid of $US51.59/kWh for a four hour battery (the average was $US59c/kWh), which Energy Storage News says represents a 30 per cent drop from 2024 levels, and others side was a 15 per cent fall from recent record lows.

So is that 51 dollars or 51 cents and an average of 59 dollars or 59 cents?
I do wish journalists would take more care when quoting figures taken from other articles, the article he cites says:

Package 3 (4-hour systems): 2.5 GW/10 GWh, with the most competitive range of CNY 0.37–0.495/Wh ($0.051–$0.068), averaging CNY 0.4249/Wh ($0.059). The lowest bid of CNY 0.37/Wh ($0.051) represents a 30% drop from 2024 levels, setting a new industry record.

I can see that the $US51.59/kWh does appear to be misquoted as it was $US51 in the original article, but the rest looks correct to me having changed from Wh to kWh which probably makes it easier for more readers.

[Mart]

Just for comparison, that 4hr battery average bid price of $59/kWh, compares to ~$220/kWh for the current price of Tesla megapacks*, so it's extremely competitive. Perhaps a great way to gain economies of scale by expanding production, even if you make little to no profit on that specific deal.

That really is an incredible price for a full storage system (not just the cells), and before installation.

*Based on buying 1,000 units of 979MW/3,916MWh packs.