Battery prices have more than halved in the past year thanks to China’s overbuild of production capacity throughout the supply chain. In China, utility-scale battery project prices are as low as $200 per kWh, of which the batteries make up $100 per kWh, and we can consider this a new normal which will change little in the next few years. With utility-scale solar often as low as $600 per kW, adding three hours of full-pelt energy storage doubles project cost. Other markets like Europe can share in China’s low solar module and battery prices, but with total installation costs still around $1,000 per kW for solar and, taking Carlton Power’s 1 GW battery 2-hour project in the UK as an…