Lithium batteries have become dramatically cheaper, according to a MIT study


In their current study, researchers at the Massachusetts Institute of Technology (MIT) have found that lithium-ion batteries have fallen sharply in the last three decades. This can be seen as a powerful engine for the changes that have taken place in the field of technology using these batteries.

Another dramatic reduction in the cost of producing lithium-ion batteries can be expected in the near future. The authors of the study, Micah Ziegler and Jessika Trancik, published in the journal Energy and Environmental Science, found that the price of these batteries has fallen by 97 percent since 1991. That is, from the moment they were first used commercially.

Such a price drop is much faster than previously thought, and can only be compared with the reduction in the price of photovoltaic panels. According to scientists, however, the benefit of the study can be seen not only in the correction of the historical development of lithium-ion battery prices, but also in the usefulness of predicting further price developments.

A comparison with similar technologies suggests that lithium-ion batteries could become even cheaper. However, it is not possible to predict with sufficient accuracy how much a price drop can be expected for various battery applications. In any case, it is a finding that gives hope that future price developments may support the development of the use of technologies such as electromobility.


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