Here's an interesting and real world case study of peaker plants being replaced by battery storage. Many studies and research reports over the years have claimed that battery storage is cheaper than natural gas. A cost benefit analysis at the Massachusetts Municipal Wholesale Electric Company (MMWEC) seems to have reached another conclusion. According to one of the participants in the project, batteries are "a great supplement but they are not a great replacement." Of course, the economics of a project are also dependent on funding sources and profits. MMWEC is a non-profit and has limited funds at its disposal. A 2017 study by the Energy Transition Lab at the University of Minnesota predicted that energy storage would be cost competitive to replace peaker plants by 2023.
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