97 per cent fall in lithium-ion battery costs


  •   4 min reads
97 per cent fall in lithium-ion battery costs

Studies are underestimating the likely level of electric vehicle sales. A new study has found that the cost of lithium-ion batteries has fallen by 97 per cent since their introduction in 1991; it projects continued price drops over the next three decades.

Tipping point: for as long as the cost of lithium-ion batteries is such that applications are more expensive than applications using traditional forms of energy storage such as carbon fuels, then demand will be low.  The moment these applications are cheaper than alternatives, then demand will soar. This is the point many people overlook — most forecasts project gradual increases in demand for electric vehicles — but that is not how it will work. The moment the cost of lithium-ion batteries fall such that electric vehicles work out cheaper over their lifetime than petrol cars, why would anyone want an internal combustion engine (ICE) car?

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