In a new report for clients, Bloomberg New Energy Finance (BNEF) forecasts that there will be 29 GWh of used EV batteries available in 2025. This far exceeds the size of the current stationary storage market. Of this, almost a third will get a second life as stationary storage (10 GWh), bringing the cumulative installed total to 26 GWh.
Senior BNEF analyst Claire Curry notes that today, a new stationary storage system can cost up to $1,000/kWh. By 2018, used EV batteries could cost as little as $49/kWh, plus about $400/kWh to convert them to stationary applications.