Lithium-ion battery prices declining due to advances in chemistry and materials science

Lithium-ion batteries have played a phenomenal role in the recent technological advancements – specifically speaking the wearables niche – and one of the major reasons behind increased adoption of lithium ion batteries is their declining costs.

According to a new study researchers have said that the work on research and development, particularly in chemistry and materials science has played a major role in reducing the prices of lithium-ion batteries. The economies of scale is the second major reason behind the price decline. Findings are published in the journal Energy and Environmental Science.

Researchers suggest that their findings could be used by policymakers and planners to help guide spending priorities in order to continue the pathway toward ever-lower costs for this and other crucial energy storage technologies.

The analysis required digging through a variety of sources, since much of the relevant information consists of closely held proprietary business data. Scientists looked at academic articles, industry and government reports, press releases, and specification sheets. They collected over 15,000 qualitative and quantitative data points, across 1,000 individual records from approximately 280 references.

Scientists estimate that the majority of the cost decline, more than 50 percent, came from research-and-development-related activities with “the vast majority” of that cost decline within that R&D category came from chemistry and materials research.

There are many variables that affect many different cost components. There’s this kind of intricate web of dependencies and the researchers’ methodology look at how that overall cost change can be attributed to those variables, by essentially mapping out that network of dependencies.

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