Lithium battery prices will fall below $100 per kilowatt-hour in four years

Shanghai Securities News China Securities News (Reporter Chen Qijue) The latest annual lithium-ion battery pack price research report (hereinafter referred to as the 'report') released by the research institution Bloomberg New Energy Finance (BNEF) shows that the average lithium-ion battery pack in the global market in 2019 The price was US$156/kWh, a decrease of 13% from 2018, and a decrease of 87% from US$1,100/kWh in 2010. The agency predicts that by 2023, the average battery price will be close to US$100/kWh.

The global decline in the price of lithium-ion battery packs in 2019 is mainly due to the increase in sales of electric vehicles, the increase in battery orders, the rapid promotion and application of high-energy density cathode materials, and new batteries The introduction of package structure design and lower production costs have driven the decline of battery prices in the short term.

The report released by the '2019 Bloomberg Future Energy Asia Pacific Summit' held this week predicts that the cumulative global demand for lithium-ion batteries will exceed 2TWH in 2024, and the price will drop Below 100 USD/kWh. This price is regarded as the tipping point for the purchase of parity between electric and fuel vehicles, but it will also vary depending on the sales area and the type of car. The report also specifically studied how automakers and battery factories can continue to reduce battery prices.

Bloomberg New Energy Finance’s senior energy storage analyst and report author James Frith said, “According to our forecast, by 2030, the annual size of the battery market will reach 116 billion U.S. dollars. This does not include investment in the supply chain. But as the prices of batteries and battery packs continue to fall, buyers will be able to get higher value than they are today for the same money.'

The agency's analysis found that low battery prices are driving more industries to 'electricityFor electric passenger vehicles oriented to the mass market, low battery prices will still be one of the most critical indicators to promote product applications.

After 2020, the price reduction of lithium-ion batteries will be achieved mainly by cutting production expenditures, introducing new battery pack designs, and reforming the supply chain.

Logan Goldie-Scot, head of energy storage at Bloomberg New Energy Finance, said, “Due to the process improvement of production equipment and the increase in the energy density of cathode materials and batteries, the cost of battery manufacturing It is also decreasing; expanding the production capacity of existing production equipment also provides the company with a low-cost way to expand production capacity.'