Batteries: What price in 2020?

Developers have been competing to make more efficient, smaller, cheaper rechargeable batteries for various uses enabling the growth in renewable energy. Producers of lithium ion batteries are ahead in building manufacturing facilities giving them an advantage in meeting large volume orders and reducing prices due to economies of scale and decrease the cost of electric cars.

The rate at which battery efficiency has been improving shows no sign of slowing, in five years battery performance in electric cars improved by 40%.

This is good news for those interested in batteries for other uses too. Energy for the People and the Alternative Technology Association report it is likely that battery technology will develop as rapidly in efficiency as the solar PV industry has done in the last 10 years, though the report is uncertain whether the prices will drop at the same rate.

Capture1Others have estimated how the continued research and development into new battery technologies might affect prices. Back in 2012 McKinsey Quarterly predicted that prices for a complete automotive lithium ion battery pack could drop from $500 to $600 kWh to $200 kWh in 2020 and $160 kWh in 2025.

As new technological breakthroughs are made, and prices continue to drop, the case for solar electric cooking seems to strengthen every day.

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