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Market
20% cost reduction in California battery storage by end of 2025?
4
Resolution / Starting Odds
Yes • 50%
No • 50%
Market analysis reports or financial statements from major battery manufacturers.
Story
California's Grid Hits Milestone with Over 6GW Battery Discharge, Leading Power Supply
Apr 18, 2024, 02:56 PM
On Tuesday night, a significant milestone was achieved in California's energy sector as battery storage discharged over 6GW for the first time, making it the largest source of power supply on the state's grid, which serves the world's fifth largest economy. This landmark event underscores the rapid growth of battery capacity in California, which has increased dramatically since the beginning of 2021. At that time, battery capacity was minimal, but it has now reached a level comparable to the output of six nuclear reactors. Additionally, scaling battery manufacturing up has brought costs down, emphasizing the potential of battery storage and demand response as viable alternatives to natural gas for meeting peak demand.
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