Our commercial review announced last week shows the TESS will be competitive with other storage technologies when compared with the levelised costs of storage (LCOS) analysis, based on the respected Lazard methodology.

The pilot installations have shown that we can now build a TESS at a significantly reduced cost (see chart below). Furthermore the projections for future systems will decline steeply. The future LCOS of the TESS will be comparable with long duration pumped hydro.