Energy Storage News•16 days ago
Li-ion battery pack prices fell 8% since last year despite metals prices rising, BloombergNEF says
Key Takeaway
The continued decline in battery prices, driven by oversupply, significantly enhances the economic viability and deployment potential of energy storage projects for developers and large consumers.
AI Summary
- •Li-ion battery pack prices have fallen 8% since last year, despite rising raw material costs.
- •This price reduction is primarily due to global cell manufacturing overcapacity and intense market competition.
- •For developers, this translates to lower CAPEX for standalone battery storage projects and hybrid renewable+storage solutions, improving project economics and competitiveness.
- •Large power consumers can anticipate more cost-effective behind-the-meter storage deployments, enhancing grid resilience and demand charge management strategies.
Topics
financingoemppastorage