Average cost of lithium-ion battery cell to fall below $100/kWh in 2023

Economies of scale and low material costs could see the average price of lithium-ion cells fall below $100/kWh in the next three years and reach $73/kWh by 2030, according to a new analysis by IHS Markit. 

As the average cost of lithium-ion batteries continue to fall, further reductions will increase the competitiveness and wider adoption in electric transportation and in grid storage applications, say the industry analysts.