“In 2008 batteries were over $1500/kWh but now NMC battery cells (lithium batteries with a cathode from nickel, manganese and cobalt) can be bought for less than $100/kWh and the somewhat heavier lithium iron phosphate cells that are better in every way than those first cells can be had for just $47/kWh.”
Prices fall about 25 percent with every doubling of production, and production has grown 59 percent a year. Hoekstra extrapolates that to $8 per kWh cells by 2030. Other forecasters assume growth levels off, and they assume it every year. In the Netherlands, over 10,000 companies can’t get the electricity they need. Cheap batteries buffer the grid faster than anyone can dig new cables.