13.2 C
Monday, September 27, 2021

Falling Cell Prices for Lithium Ion Batteries Are Expected to Decrease an Additional 46% through 2029

Popular Articles

Welcome to WoREA! You are in the right place to learn about all things renewable energy. We would like to take this opportunity to firstly wish you well, congratulate you for being here, but above all else, thank you personally for your interest in renewable energy - we like you! Please feel free to submit your content and/or reach out directly. We are always interested in learning more about our members and the markets in which you work.

June 2, 2020 – Boulder, Colo. – A new report from Guidehouse Insights examines the pricing trends and issues driving growth for energy storage technologies, providing system and component price forecasts for residential energy storage, commercial and industrial (C&I) energy storage, utility-scale energy storage, and electric vehicle (EV) batteries, 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. These declining prices are opening new markets and profitable applications for grid storage to compete with conventional fossil fuel generation technologies. Simultaneously, the falling price of batteries allows lower priced EVs with longer driving ranges to compete directly with gasoline and diesel vehicles. Click to tweet: According to a new report from @WeAreGHInsights, 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 (Li-ion) cell prices through 2029.

“Although supply shortages in 2018 and 2019 temporarily limited price reductions as demand outpaced supply, the industry is seeing aggressive declines in Li-ion battery prices,” says Alex Eller, senior research analyst with Guidehouse Insights. “The primary factor driving these price declines is the rapidly growing capacity of global battery manufacturing.”

Other advanced battery technologies and electromechanical energy storage system (ESS) technologies are gaining traction for grid storage due to their operating characteristics and better safety profiles. However, project size variation and different configurations result in a wide array of reported prices.

The report, Market Data: Energy Storage Pricing Trends, examines the pricing trends and issues driving growth for energy storage technologies. The report provides system and component price forecasts for four markets: residential energy storage, commercial and industrial (C&I) energy storage, utility-scale energy storage, and EV batteries (EVBs). To show the range of pricing in the market, base, high, and low cases are provided for each segment. The grid storage market forecasts include component-level pricing for average-size residential and C&I ESSs. Detailed forecasts for utility-scale projects based on duration are also included, with a 20 MW project modelled with 10 MWh, 20 MWh, and 80 MWh capacity. An executive summary of the report is available for free download on the Guidehouse Insights website.

About Guidehouse Insights

Guidehouse Insights, the dedicated market intelligence arm of Guidehouse, provides research, data, and benchmarking services for today’s rapidly changing and highly regulated industries. Our insights are built on in-depth analysis of global clean technology markets. The team’s research methodology combines supply-side industry analysis, end-user primary research, and demand assessment, paired with a deep examination of technology trends, to provide a comprehensive view of emerging resilient infrastructure systems. Additional information about Guidehouse Insights can be found at www.guidehouseinsights.com.


About Guidehouse
Guidehouse is a leading global provider of consulting services to the public and commercial markets with broad capabilities in management, technology, and risk consulting. We help clients address their toughest challenges with a focus on markets and clients facing transformational change, technology-driven innovation and significant regulatory pressure. Across a range of advisory, consulting, outsourcing, and technology/analytics services, we help clients create scalable, innovative solutions that prepare them for future growth and success. Headquartered in Washington DC, the company has more than 7,000 professionals in more than 50 locations. Guidehouse is led by seasoned professionals with proven and diverse expertise in traditional and emerging technologies, markets and agenda-setting issues driving national and global economies. For more information, please visit: www.guidehouse.com.


* The information contained in this press release concerning the report, Market Data: Energy Storage Pricing Trends, is a summary and reflects the current expectations of Guidehouse Insights based on market data and trend analysis. Market predictions and expectations are inherently uncertain and actual results may differ materially from those contained in this press release or the report. Please refer to the full report for a complete understanding of the assumptions underlying the report’s conclusions and the methodologies used to create the report. Neither Guidehouse Insights nor Guidehouse undertakes any obligation to update any of the information contained in this press release or the report.

- Advertisement -

More articles

Latest articles

- Advertisement -