The Onslow pumped hydro scheme is estimated to store 4,000 – 11,000 GWh, with an estimated cost of $16 billion NZD (9.7 billion USD), and be delivered in (at least) 10 years time. Is that a cost of $881-2450 USD per kwhr?
I presume there is ample room for cost blowouts as well.
LiPo cells are currently costing about $110 to 130/kWh (USD), and trending downwards. Now large scale storage batteries are more than just the cells (Tesla megapacks are selling for 1.39M for 3.916 MW or about $410/kwhr), and cells probably wear out quicker than a dam, but it seems the Onslow scheme is not giving great bang for buck. The best you could say for it is that a lot of the spend would stay in NZ because a lot of the spend is in labour.
Am I missing something? Is my math wrong? It seems to me spending 16 billion becoming experts in assembling large scale batteries would be a better long term investment for NZ. And they can get access to the storage as it is build, instead of waiting 10 years.
https://www.mbie.govt.nz/dmsdocument/28349-identifying-poten...
https://pv-magazine-usa.com/2024/03/06/battery-prices-collap...
https://en.m.wikipedia.org/wiki/Tesla_Megapack