Price of lithium-ion batteries falls by 14% in 2023, says BloombergNEF

The company's annual price survey reveals that the technology has reached its lowest value in history
Preço das baterias de íon-lítio cai 14% em 2023, diz BloombergNEF
Image: SEC Power./Reproduction

O price of lithium ion batteries fell around 14% throughout this year and reached its lowest value in history: US$ 139 per kWh, according to a study published by BloombergNEF, this Monday (27). 

The fall would have been driven by reduction in prices of raw materials and their components, due to the fact that production capacity has increased in all parts of the value chain and also due to the demand growth have fallen short of industry expectations.

In 2022, the price of lithium-ion batteries on the international market was US$ 161 per kWh. According to research, since 2013 the value of technology has recorded a reduction of more than 80% in its value. 

The company also points out in its study that continued investment in R&D (Research and Development), as well as improvements in manufacturing processes and expansion of capacity throughout the supply chain, will help to improve battery technology and further reduce costs. technology costs over the next decade. 

“BloombergNEF expects next-generation technologies such as silicon and lithium metal anodes, solid-state electrolytes, new cathode material and new cell manufacturing processes to play an important role in enabling further price reductions,” the research concludes. 

Average price of lithium-ion batteries per year

Year  Value per kWh 
2013 US$ 780
2014 US$ 692
2015 US$ 448
2016 US$ 345 
2017 US$ 258
2018 US$ 211
2019 US$ 183 
2020 US$ 160
2021 US$ 150
2022 US$ 161
2023 US$ 139

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Henrique Hein
He worked at Correio Popular and Rádio Trianon. He has experience in podcast production, radio programs, interviews and reporting. Has been following the solar sector since 2020.

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