Nothing is certain except death, taxes — and the steady decline in the cost of clean energy technologies.
That includes batteries. The average price of a lithium-ion battery pack fell 20 percent this year to $115 per kilowatt-hour — the biggest drop since 2017, according to clean energy research firm BloombergNEF’s newly released annual survey.
Lithium-ion batteries are key to the energy transition. They power electric vehicles and e-bikes and store carbon-free solar and wind power for on-demand use.
For decades, these batteries have been on a so-called learning curve, meaning their costs have dropped every time the number of batteries deployed in the real world has doubled. Add up those steady decreases over time and the result is dramatic: In 2010, battery-pack prices were $1,436, per BloombergNEF — more than 12 times higher than they are today.
This rapid cost reduction has in turn enabled the ongoing batteryification of everything.
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