Lithium battery costs have fallen by 98% in three decades
source link: https://www.economist.com/graphic-detail/2021/03/31/lithium-battery-costs-have-fallen-by-98-in-three-decades
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Daily chartLithium battery costs have fallen by 98% in three decades
In a few years electric vehicles may cost the same as their combustion-engine counterparts
BATTERIES HAVE come a long way in 30 years. In the early 1990s the storage capacity needed to power a house for a day would have cost about $75,000. The cells themselves would have weighed 113kg (250lbs) and taken up as much space as a beer keg. Today the same amount of power can be delivered at a cost of less than $2,000, from a 40kg package roughly the size of a small backpack.
Such technological progress is crucial for decarbonising the global economy. One of the shortcomings of renewable energy sources is their inconsistency: the sun does not always shine and the wind does not always blow. Batteries can help solve this problem by storing up surplus power when supply is high, for use when it is low. A steadier supply of electricity could eliminate the need for “peakers”—generation plants powered by fossil fuels that utilities bring online only when demand rises sharply, for example on hot days when air-conditioners are cranked up. Such carbon-belching facilities, which run only for a few hours each year, are expensive to build and run, raising costs for consumers.
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