Good News & Bad News, page-3255

https://www.greencarcongress.com/2019/12/20191204-bnef.html
Battery prices, which were above $1,100 per kilowatt-hour in 2010, have fallen 87% in real terms to $156/kWh in 2019. By 2023, average prices will be close to $100/kWh, according to the latest forecast from research company BloombergNEF (BNEF).
Cost reductions in 2019 are thanks to increasing order size; growth in battery electric vehicle sales; and the continued penetration of high energy density cathodes. The introduction of new pack designs and falling manufacturing costs will drive prices down in the near term.
BNEF’s 2019 Battery Price Survey, published at the BNEF Summit in Shanghai, predicts that as cumulative demand passes 2 TWh in 2024, prices will fall below $100/kWh. This price is seen as the point around which EVs will start to reach price parity with internal combustion engine vehicles.
However, this varies depending on the region of sale and vehicle segment. The report further examines in detail how manufacturers and automakers alike can continue to reduce prices.
According to our forecasts, by 2030 the battery market will be worth $116 billion annually, and this doesn’t include investment in the supply chain. However, as cell and pack prices are falling, purchasers will get more value for their money than they do today.

—James Frith, BNEF’s senior energy storage analyst and author of the report​

Annual lithium-ion battery market size. Source: BloombergNEF​