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.
Advanced lithium iron phosphate (LFP) cell design and localising production are among chief strategies for differentiation in the US for LG Energy Solution, according to the company’s ESS division head.
Whilst growing in popularity for stationary energy storage, one project developer tells Energy-Storage.news that LFP batteries deliver lower returns than NMC ones, a claim we then put to battery intelligence firm ACCURE.