Wood Mackenzie report finds four-hour battery storage cheaper than gas turbines in all 43 modeled markets

Wood Mackenzie's latest global levelized cost of electricity report states that four-hour battery storage is now less expensive to install than open-cycle gas turbines in all 43 markets where both technologies were modeled, with storage in the Middle East and Africa forecast to fall 33% to $80/MWh by 2035 from $120/MWh in 2026. The report says single-axis tracker solar is the lowest-cost new-build technology in 43 of 48 modeled markets, and that in North America near-term solar costs face pressure from tariffs, antidumping and countervailing duty actions and new Section 232 import restrictions, with utility-scale solar partially protected by 168 GW of safe-harboured capacity.