Why battery prices have decreased 50% in three years?

A study by Bloomberg New Energy Finance estimates that battery prices have dropped 50% in three years. Behind lies an irresistible trend.

The electrification of transport and the energy sector is moving at a surprising pace if we look only a few years ago. A decade ago, electric cars were an extravagant anecdote in the hands of Tesla’s ecolujo proposal, while the main use for lithium-ion batteries was electronics, in small units.

There is no doubt that the growth of the electronic sector has pushed down prices in batteries. But also the electrification of transport has done it. And with it has come the use of batteries for domestic or large-scale energy storage.

The estimates are made by Bloomberg New Energy Finance. In a new study, the consultant points out that the price of batteries would have fallen by around 50% in three years. It has gone from around 300 dollars per kWh to 156 dollars per kWh in 2019. And it is not the only striking statistic that is extracted from the report.

From 2010 to 2019, battery prices would have decreased by 87%, from $ 1,100 per kWh. The figures are in line with what was calculated by Bloomberg New Energy Finance in another 2015 study. He pointed out that in the last eight years battery prices had fallen by 59%.

The trend would have accentuated, therefore. And among the arguments to justify this trend is the conviction of the car industry to migrate to the electric car. At the end of 2015 is when the Dieselgate was given, which was an incentive for the transformation into Volkswagen. The most powerful automotive group dragged the rest.

Acumuladores gigantes

To the sum of the car manufacturers must be added the will to build battery factories. Not only research has helped reduce the price. So has mass production.

Towards more electric cars
This reduction in the price of batteries has a clear impact on the cost of manufacturing an electric vehicle. Therefore, it is possible to lower the final price of these cars, whose most valuable element is the battery.

Another study by Bloomberg New Energy Finance pointed out that electric cars would be cheaper than combustion cars in 2025. The prediction is in line with the reduction in the price of batteries in the present report. This calculates that the symbolic figure of 100 dollars per kWh will be reached in 2023.

Spread the love

Leave a Reply