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Adding a kilowatt hour of storage to a cavern might cost $2, he says, compared to $250 for adding a kilowatt hour of storage tanks.
It's aiming to reach costs near $500 per kilowatt hour of storage capacity.
In Fort Lauderdale, the initial fee was $1, which provides half an hour of storage; to retrieve, one pays $1 for each additional half-hour, up to $6 for 24 hours.
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In 1991 the Advanced Battery Consortium was founded and set a near-term target for developing a battery that would cost $150 per kilowatt-hour of storage.
It's far cheaper per kilowatt-hour of storage than today's grid-scale batteries, and they won't be widely adopted until they can compete on cost.
Such batteries have been around for decades, and are used in places like Japan to help manage the power grid, but they're expensive about $700 per kilowatt-hour of storage capacity, according to one estimate.
While it has declined from about $1,000 per kilowatt-hour of storage in 2008 to about $500 today, it would have to decline to $125 over the next 10 years.
Battery experts caution against the oversimplification of battery price into dollars-per-kilowatt-hour of storage capacity because there are additional necessities, including the assembly of individual cells into a single large battery pack and the cooling and heating provisions.
You made an early decision to use small batteries, similar to the kind used in laptops, that cost less per kilowatt-hour of storage than the cells other automakers use.
Reaching $100 per kilowatt-hour of storage would require cutting the cost of other key components, too, notably the material used to aid the flow of electrons into and out of the quinones.
Isentropic claims a round-trip energy efficiency of up to 80% and, because gravel is cheap, the cost of a system per kilowatt-hour of storage would be between $10 and $55.
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