The Latin American energy storage market is at a pivotal moment. After more than a decade of sharp cost reductions—with battery prices falling by 89% between 2010 and 2023, according to the International Renewable Energy Agency (IRENA)—the Levelised Cost of Storage (LCOS) for BESS now ranges between USD 140 and 300 per MWh, based on the latest figures from the Latin American Energy Organisation (OLADE).
Against this backdrop, five senior executives from Trina Solar, Sungrow, JA Solar, Great Power and AMPACE shared their views on BESS pricing dynamics, highlighting a phase of relative stability—but with close attention on factors that could drive future changes.
“Over recent years, we have seen battery prices fall significantly, making projects financially viable and easier to combine with renewables,” said Vicente Walker, Head of Trina Storage for Latin America and the Caribbean at Trina Solar. “Looking ahead, prices appear to be stabilising, and we do not expect major fluctuations in the near term.”
Efficiency and scale are also expected to play a decisive role. From JA Solar, Marcos Donzino, Head of Sales for South LATAM, anticipates a consolidation of the industrial ecosystem driven by competition for increasingly efficient and higher-performing systems, whether for hybrid or stand-alone projects.
“Only the players that are most efficient in production and in the technology they offer will remain,” he said. “That process is likely to create downward pressure on prices over the coming years.”
Not all market participants share this outlook. Germán Rotter, BESS Sales Manager LATAM at Great Power, warned that lithium price dynamics will be critical—and could alter cost trajectories.
“It is also essential to distinguish between commercial and industrial (C&I) solutions and utility-scale projects,” he explained. “Within the utility-scale segment itself, there are different categories, such as PMGD, mid-sized and large-scale projects, each with its own cost structure.”
Amid these potential fluctuations, innovation is emerging as a strategic buffer. Marcel Peralta, Head of LATAM at AMPACE, highlighted rapid technological advances and China’s expanding manufacturing capacity, which are improving global supply conditions and supporting project development across the region.
“Today we have batteries capable of reaching up to 15,000 cycles, entering the market at very competitive prices,” he noted. “This results in highly attractive returns on investment.” The combination of extended lifespan and lower costs could redefine profitability benchmarks for new storage projects in Latin America.
Meanwhile, Jorge Alvarado, BESS and Inverter Sales Manager at Sungrow, emphasised the importance of non-price factors. “We are currently in one of the most aggressive market phases in terms of pricing,” he said. “However, Sungrow’s value proposition today goes well beyond price alone.”
In line with this strategy, the company has already secured more than 10 GWh of projects in the region: 3.1 GWh are in commercial operation (COD), 3 GWh are under commissioning, and a further 4 GWh are guaranteed for delivery by the first quarter of 2026.
Market trends: added value, auctions and innovation
These discussions gain further relevance in the context of Latin America’s rapid expansion of energy storage projects. Chile leads the region, with nearly 2 GW of BESS in operation, 7.5 GW under construction or testing, and an additional 27 GW at various stages of development.
Brazil is preparing for its first-ever dedicated storage auction—“LRCAP 2026 – Storage”—scheduled for April 2026, with supply expected to begin in 2028 under ten-year contracts.
Argentina is also moving forward, following the award of more than 700 MW in the AlmaGBA tender. A new call known as AlmaSADI is planned, potentially adding between 500 and 600 MW of BESS to replace forced generation at critical grid nodes.
In Mexico, the government has approved 20 private projects totalling 3,320 MW of renewable generation and 1,488 MW of storage capacity, as part of a priority permitting process for new power projects. Across Central America and the Caribbean, countries such as Guatemala, Panama, the Dominican Republic and Honduras are advancing tenders that already exceed 4,000 MW, with storage increasingly required not just as a complement but as a core technical component of energy management.
A mixed outlook for BESS prices
In short, the future of BESS prices in Latin America will not follow a single path. Some factors point to relative stabilisation, while others—particularly lithium prices—could trigger renewed increases.
At the same time, intensifying competition, technological innovation and market maturation are pushing towards a potential structural decline in costs, at least for companies able to remain efficient and scale their operations. How each player positions itself in this new equilibrium will be decisive for the next phase of energy storage deployment in the region.
