Supply chain shocks are causing short-term rises in the price of lithium-ion battery packs, but overall the price trend is downward and by 2024 average prices could dip below US$100/kWh.
The 2020s are “the energy storage decade,” and the world will surpass a terawatt-hour of installations by the time they are over, according to predictions made by analysts at BloombergNEF.
Despite the fall in unit prices for energy storage, a total of US$3.6 billion of investment was committed to energy storage projects in 2020, around the same amount as in 2019.
