Lithium-ion batteries are one of the most efficient energy storage devices worldwide. Over recent years, high scale production and capital investment into the battery production process made lithium-ion battery packs cheaper and more efficient. This demonstrates a staggering demand for energy storage worldwide and could be attributed to the fact that the world is moving towards a renewable energy-based economy where electric vehicles play an increasingly large role.
Li-ion battery pack costs dropped to some 137 U.S. dollars per kilowatt hour in 2020 and are expected to drop further in the coming years. Lithium-ion battery pack costs worldwide between 2011 and 2030 (in U.S. dollars per kilowatt hour)
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Bloomberg New Energy Finance. (December 16, 2020). Lithium-ion battery pack costs worldwide between 2011 and 2030 (in U.S. dollars per kilowatt hour) [Graph]. In Statista. Retrieved March 07, 2021, from https://www.statista.com/statistics/883118/global-lithium-ion-battery-pack-costs/
Bloomberg New Energy Finance. "Lithium-ion battery pack costs worldwide between 2011 and 2030 (in U.S. dollars per kilowatt hour)." Chart. December 16, 2020. Statista. Accessed March 07, 2021. https://www.statista.com/statistics/883118/global-lithium-ion-battery-pack-costs/
Bloomberg New Energy Finance. (2020). Lithium-ion battery pack costs worldwide between 2011 and 2030 (in U.S. dollars per kilowatt hour). Statista. Statista Inc.. Accessed: March 07, 2021. https://www.statista.com/statistics/883118/global-lithium-ion-battery-pack-costs/
Bloomberg New Energy Finance. "Lithium-ion Battery Pack Costs Worldwide between 2011 and 2030 (in U.S. Dollars per Kilowatt Hour)." Statista, Statista Inc., 16 Dec 2020, https://www.statista.com/statistics/883118/global-lithium-ion-battery-pack-costs/
Bloomberg New Energy Finance, Lithium-ion battery pack costs worldwide between 2011 and 2030 (in U.S. dollars per kilowatt hour) Statista, https://www.statista.com/statistics/883118/global-lithium-ion-battery-pack-costs/ (last visited March 07, 2021)