India, Dec. 11 -- A dramatic fall in battery storage costs has pushed the price of delivering solar power when it is needed to a record low, with a new report by energy think tank Ember showing utility-scale storage now costs just $65 per megawatt hour (MWh) outside China and the US. Ember says this marks a fundamental shift in how quickly solar can become reliable, round-the-clock (RTC) electricity.

The report, 'How cheap is battery storage?' released on December 11, draws on recent auctions in Italy, Saudi Arabia and India alongside interviews with developers across global markets. It finds that the all-in capital cost of long-duration battery storage has plunged to $125/kWh, including around $75/kWh for core equipment shipped from Chi...