A fall of up to 66% in the cost of battery storage for stationary applications by 2030 is set to spur huge growth in the sector, which will join renewables in a mutually-beneficial global expansion, says a new report from the International Renewable Energy Agency (Irena).

The plunging prices could result in a 17-fold expansion of battery deployments, opening new potential applications from utility-scale downwards, according to Irena’s study Electricity Storage and Renewables: Costs and Markets to 2030.