The Department of Energy’s (DOE) Office of Automotive Technology analyzed prices for lithium-ion batteries for electric vehicles between 2008 and 2021.
According to the report, the average unit cost of a traction battery is currently $ 157 per kWh of usable capacity and $ 143 per kWh of total capacity.
In 2008, it was estimated at $ 1237 per kilowatt-hour of usable capacity. Thus, over 13 years, prices for storage batteries have decreased by 87%, or almost 8 times.
The report notes that such a rapid drop in prices is primarily due to major improvements in chemistry, physics and battery technology. And this process is accelerating – in the last two years alone, prices for batteries for electric cars have decreased by 25%.
According to experts’ forecasts, further improvement of production technologies for battery recycling in the next five years will reduce the price of traction batteries by another 30-40%.