Energy3h ago
Lithium-Ion Batteries Keep Getting Cheaper
What We’re Showing
The price of lithium-ion batteries over the last ten years. This data comes exclusively from Benchmark Mineral Intelligence as of September 2024.
Key Takeaways
- The price of lithium-ion battery cells declined from an average of $290 per kilowatt-hour in 2004 to $103 in 2023.
- Lithium prices are expected to tumble even further in 2024 due to oversupply from China and a softening of electric vehicle (EV) adoption rates.
Dataset
Year | Global Avg. Cell Price ($ per kilowatt-hour) |
---|---|
2014 | 290 |
2015 | 230 |
2016 | 180 |
2017 | 140 |
2018 | 128 |
2019 | 120 |
2020 | 110 |
2021 | 99 |
2022 | 129 |
2023 | 103 |
2024 (ytd) | 78 |
Data sources
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