According to the bloomberg new energy finance (BNEF) survey, the average price of a lithium-ion battery pack falls to $209 a kilowatt-hour, and the price will fall below $100 per kilowatt-hour by 2025.
In a 2016 report, BNEF highlighted the decline in battery prices over the past decade.At the time, electric vehicles and plug-in hybrid vehicles (PHEV) were priced higher than gas-powered cars of similar size.This is due to expensive batteries.
A few years ago, tesla's battery price hovered around $400 / KWH."In the not-too-distant future, the cost of electric car batteries will fall below $200 per kilowatt hour," elon musk said in 2012.Today, ge's LG chemical battery is estimated at $145 a kilowatt-hour.That means a battery cost of about $190 per kilowatt-hour.
According to James Frith, an analyst at BNEF, the average battery pack will fall below $100 per kilowatt hour by 2025, perhaps as early as possible.James Frith thinks that $100 / KWH is widely regarded as "the tipping point for electric vehicle applications".
The BNEF estimate comes from a survey of more than 50 battery makers.The price decline is due to the growth of the battery manufacturing industry and the fact that the economies of scale are beginning to really reduce costs.