Cell manufacturing overcapacity and intense competition contributed to an 8% decline in the average cost of lithium-ion battery packs, according to BloombergNEF.
Charlotte Gisbourne, market analyst at PV Tech Research discusses trends and movements in the Q1 2025 edition of the EnergyStorageTech Bankability Ratings report.
The increasing cost-competitiveness of LFP battery cells has made first life batteries more attractive than second life ones, Finland-based BESS solutions firm Cactos told Energy-Storage.news after a €26 million (US$28.5 million) fundraise.
After a difficult couple of years which saw the trend of falling lithium battery prices temporarily reverse, a 14% drop in lithium-ion (Li-ion) battery pack cost from 2022-2023 has been recorded by BloombergNEF.
