After a decade of declines, battery prices will increase in 2022, top analysts say

After more than a decade of declines in cost, the most expensive component of electric vehicles is getting pricier.

The average price of a lithium-ion battery pack has dropped nearly 90% from 2010 to 2020. Last year, that cost fell to $132 per kilowatt-hour, according to BloombergNEF, but the decrease was smaller than expected.

This year will be the first time the average battery price goes up, experts told us, although estimates vary for exactly how much battery prices will rise by the end of this year. Benchmark Mineral Intelligence expects about a 10% rise this year, while Wood Mackenzie expects a jump of ~20% year over year, per preliminary estimates each firm shared with Emerging Tech Brew.
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RSK: This not only increases the cost of EV`s but any kind of battery storage such as wind and solar.

Ken Notes: I worked in tech from 82 to 98 and I promise EVs are very early in the cost curve. We will see major advancements, failures, and huge success stories as EV become the norm rather than the exception. When I started in tech many told me typewriters would NEVER be replaced and I have a thumb drive that holds more data than Kimberly-Clark had in it`s entire tape library and mainframe that cost hundreds of millions of dollars.