Saudi Arabia aims to overtake China in lowering battery energy storage costs by next year, Energy Minister Abdulaziz bin Salman has said.
The cost of four-hour storage capacity in the Kingdom is approximately $409 per kilowatt, 77 percent lower than in Germany, and approaching China’s $404, Ashraq Business reported, quoting the minister.
The Kingdom is making significant investments in its renewable energy and battery storage projects, in addition to automating the distribution network, Prince Abdulaziz said.
Riyadh has launched battery energy storage system (BESS) projects with a capacity of 30 gigawatt-hours (GWh), of which 8 GWh are connected, with the remainder under development, the report said.
Renewable energy production capacity has increased to 64 gigawatts (GW) this year, up from 3 GW five years ago, accelerating the transition to a low-emission, sustainable economy, the minister said.
Saudi Arabia has a target of 48 GWh of BESS by 2030 to keep grid stability amid significant growth in solar PV penetration. There have been over 30 GWh of tender requests for quotations since the start of 2024 in the Kingdom, according to S&P Global Ratings.
