#MIT News: Study reveals plunge in #lithium-ion battery costs

The cost of the rechargeable lithium-ion batteries used for phones, laptops, and cars has fallen dramatically over the last three decades, and has been a major driver of the rapid growth of those technologies. But attempting to quantify that cost decline has produced ambiguous and conflicting results that have hampered attempts to project the technology’s future or devise useful policies and research priorities.

Now, MIT researchers have carried out an exhaustive analysis of the studies that have looked at the decline in the prices these batteries, which are the dominant rechargeable technology in today’s world. The new study looks back over three decades, including analyzing the original underlying datasets and documents whenever possible, to arrive at a clear picture of the technology’s trajectory.

The researchers found that the cost of these batteries has dropped by 97 percent since they were first commercially introduced in 1991. This rate of improvement is much faster than many analysts had claimed and is comparable to that of solar photovoltaic panels, which some had considered to be an exceptional case. 

Read more at: https://news.mit.edu/2021/lithium-ion-battery-costs-0323

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