A barrel of oil is about 1,700 kWh. If we have an optimistic cost (https://atb.nrel.gov/electricity/2022/utility-scale_battery_...) of $300 per kWH capacity that is $510,000. Divide by say 5000 cycles that you can get out of a battery: it costs $102 in what is capital depreciation/wear to store one barrel of oil.
Of course projections show that reducing to 1/3 of that...eventually.
A barrel of oil is about 1,700 kWh. If we have an optimistic cost (https://atb.nrel.gov/electricity/2022/utility-scale_battery_...) of $300 per kWH capacity that is $510,000. Divide by say 5000 cycles that you can get out of a battery: it costs $102 in what is capital depreciation/wear to store one barrel of oil.
Of course projections show that reducing to 1/3 of that...eventually.