Cell prices for lithium-ion batteries to decline by 46%

SMART ENERGY INTERNATIONAL | Continued improvements in manufacturing and supply chain efficiencies coupled with incremental improvements in energy density are expected to yield an additional 46% reduction in average lithium-ion cell prices through 2029.

Declining prices for energy storage technologies continue to be the biggest driver of growth for both the EV and stationary grid energy storage markets, according to Guidehouse Insights.

These declining prices are opening new markets and profitable applications for grid storage to compete with conventional fossil fuel generation technologies.

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