Global lithium battery prices have dropped by nearly 90% in the past nine years

by:CTECHi     2021-07-21

With the rise of the battery market, the price of lithium batteries will continue to fall.

On December 3, Bloomberg New Energy Finance (BNEF) released a research report on the price of lithium-ion battery packs.

The report shows that the average price of global lithium-ion battery packs this year is US$156/kWh, a year-on-year decrease of 13%; compared with 2010, it is down 87%.

Among them, the average price of lithium battery packs in the Chinese market this year is as low as US$147/kWh, the lowest in the world.

The report believes that the sales of electric vehicles have increased, battery orders have increased, the rapid application of high-energy density cathode materials, and the introduction of new battery pack structure designs and lower production costs , In a short period of time boosted the decline in battery prices.

According to BNEF's forecast, the cumulative global demand for lithium-ion batteries will exceed 200 million kWh in 2024, and the price will fall below US$100/kWh. This price is the critical point for the purchase of parity between electric vehicles and fuel vehicles.

As prices are falling faster than expected, BNEF raised its forecast for the lithium-ion battery market in November 2018.

BNEF senior energy storage analyst and report author James Frith said that by 2030, the annual global battery market will reach 116 billion US dollars, which does not include investment in the supply chain .

Wood Mackenzie senior energy storage research consultant Rory McCarthy once wrote that in 2018, lithium battery technology accounted for 95% of the global battery market. In the next ten years, this dominant The type status will continue.

RoryMcCarthy believes that lithium battery technology can achieve economies of scale, which is a significant advantage that other alternative energy storage technologies cannot match.

BNEF Energy Storage Supervisor Logan Goldie-Scot said that due to the improvement of production equipment and the improvement of the energy density of the cathode material and the battery cell, the manufacturing cost of the battery is also decreasing; The production capacity of production equipment can provide enterprises with a low-cost way to expand production capacity.

The BNEF report believes that after 2025, the importance of the energy density of batteries and battery packs will become more prominent, which determines whether materials and production capacity can be used more effectively.

Among them, emerging technologies such as silicon, lithium anode materials, solid-state batteries, and new cathode materials will become the key to reducing costs.

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