Lithium-ion battery packs experienced the most significant price drop in seven years. A promising new material could help batteries achieve over 20,000 charge and discharge cycles before reaching the 80% capacity threshold, maximizing their value. Two new battery technologies could replace lithium-ion, and the Biden administration significantly boosted battery production and charging infrastructure with a large loan.
1. Lithium-ion battery pack prices plunge to $115 per kWh, marking the largest drop since 2017
Source: BloombergNEF
Battery prices have experienced their steepest annual decline since 2017, with lithium-ion battery pack costs falling by 20% to a global average of $115 per kilowatt-hour, according to BloombergNEF (BNEF). The drop is driven by several factors, including overcapacity in cell manufacturing, economies of scale, reduced metal and component costs, the increasing adoption of lower-cost lithium-iron-phosphate (LFP) batteries, and slower growth in electric vehicle (EV) sales.
The decline comes amid aggressive production expansions by battery manufacturers over the past two years. Anticipating a surge in demand from EVs and stationary storage markets, global battery-cell manufacturing capacity now exceeds 3.1 terawatt-hours — more than 2.5 times the projected demand for lithium-ion batteries in 2024, BNEF reports.
While battery demand grew year over year across all sectors, the EV market, a key driver of lithium-ion battery demand, saw slower growth than in recent years. In contrast, the stationary storage sector has accelerated, with intense competition among cell and system providers, particularly in China.
Battery prices vary by region and application, but the global downward trend highlights the impact of manufacturing overcapacity and shifts in market dynamics.
“The price drop for battery cells this year was greater compared with that seen in battery metal prices, indicating that margins for battery manufacturers are being squeezed. Smaller manufacturers face pressure to lower cell prices to fight for market share,” said Evelina Stoikou, the head of BNEF’s battery technology team and lead author of the report.
2. New battery technology promises longer lifespan, extending use to grid energy storage after EVs
Source: Canadian Light Source
Efforts are ramping up to extend the lifespan of lithium-ion batteries in electric vehicles (EVs). In the U.S., current regulations require these batteries to retain 80% of their original capacity after eight years of use. However, many experts argue that batteries capable of lasting decades are needed to maximize their value. Once no longer suitable for EVs, these batteries could serve “second-life applications,” such as grid energy storage for wind and solar power.
A team from Dalhousie University, using the Canadian Light Source (CLS) at the University of Saskatchewan, studied a promising new lithium-ion battery material known as a single-crystal electrode. The battery, tested continuously for over six years in a Halifax lab, achieved over 20,000 charge and discharge cycles before reaching the 80% capacity threshold. This performance equates to an estimated 8 million kilometers of driving.
For comparison, conventional lithium-ion batteries tested under similar conditions lasted only 2,400 cycles before hitting the same 80% cutoff. The findings highlight the potential for single-crystal electrode technology to significantly extend battery life, paving the way for more durable EV batteries and long-term grid storage solutions.
3. PNNL develops improved zinc-manganese battery for renewable energy storage
Source: www.pnnl.gov
Source: Nature Energy
Rechargeable zinc-manganese oxide batteries have long been considered a safer, cost-effective alternative to lithium-ion batteries, but they historically fail after a few charge cycles. PNNL researchers discovered that managing chemical equilibrium can address this issue, unlocking their potential for large-scale energy storage.
Instead of traditional ion movement, the team found that zinc-manganese oxide batteries rely on a reversible chemical reaction, forming new materials during charge cycles. The battery’s manganese electrode reacts with protons in the electrolyte, creating zinc hydroxyl sulfate.
Battery failure typically occurs when manganese dissolves, reducing capacity. The team resolved this by adding manganese ions to the electrolyte, stabilizing the reaction. The result: a test battery retained 92% of its capacity over 5,000 cycles, achieving 285 milliAmpere-hours per gram of manganese oxide.
Researchers will further study the battery’s chemical processes and explore additional improvements to enhance its performance and scalability.
4. Twisted carbon nanotubes outperform lithium-ion Batteries in energy storage
Source: SciTechDaily
A global team of scientists, including researchers from UMBC’s Center for Advanced Sensor Technology (CAST), has demonstrated that twisted carbon nanotubes can store three times more energy per unit mass than advanced lithium-ion batteries. Published in Nature Nanotechnology, the study highlights carbon nanotubes as a promising lightweight, compact, and safe energy storage solution for applications like medical implants and sensors.
Scanning electron microscope images show some carbon nanotube “ropes” subjected to different twist strains. Credit: In-situ micrographs observed by Preety Ahuja
The team, led by Shigenori Utsumi (Suwa University), Katsumi Kaneko (Shinshu University), and Sanjeev Kumar Ujjain (CAST), created carbon nanotube “ropes” by twisting commercially available nanotube bundles into threads coated for enhanced strength and flexibility. Tests showed the ropes store 15,000 times more energy per unit mass than steel springs and three times more energy than lithium-ion batteries, performing reliably between -76° F and 212° F.
“These twisted carbon nanotubes have incredible potential for mechanical energy storage,” said Kumar Ujjain, who, along with CAST colleague Preety Ahuja, contributed significantly to the project. The CAST team is now working to integrate this technology into prototype sensors under development.
With their lightweight nature, exceptional energy density, and safety, carbon nanotubes could revolutionize energy storage in advanced technologies, including medical devices and beyond.
5. Biden admin grants $10.88B loan to boost EV battery production and charging infrastructure
Source: Battery Technology
EVgo charging station in Georgia. Courtesy of EVgo Services LLC.
The U.S. Department of Energy (DOE) has issued a $10.88 billion loan to support EV battery manufacturing and charging infrastructure as part of President Biden’s clean energy agenda. The funding aims to create jobs, strengthen domestic supply chains, and advance zero-emission transportation goals.
BlueOval SK, a joint venture between Ford Motor Company and SK On, will use the loan to build three advanced battery plants in Tennessee and Kentucky. These facilities are expected to produce over 120 gigawatt hours of battery capacity annually for Ford and Lincoln electric vehicles.
The project, the largest loan under the DOE’s Advanced Technology Vehicles Manufacturing (ATVM) Program, has already created over 5,000 construction jobs and is set to employ 7,500 workers upon completion. To support the workforce, BlueOval SK is collaborating with local technical colleges to train workers for these roles.
This initiative is crucial for reducing reliance on foreign supply chains, particularly from China, and aligns with President Biden’s target of making 50% of new vehicle sales zero-emission by 2030 while solidifying U.S. leadership in clean transportation technology.
Tell Us What You Think!