Battery Packs: How Much Do They Cost for Homes and Electric
Battery pack costs vary widely. In 2023, battery electric vehicle packs averaged $128 per kWh. Lithium-ion batteries ranged from $10 to $20,000. EV battery replacements
Battery electric vehicles (BEVs) packs were the cheapest in the transport segment at $99/kWh – the second year that they were below the $100/kWh threshold. Average LFP battery pack prices across all segments came in at $81/kWh while nickel manganese cobalt (NMC) packs were at $128/kWh.
The average price of a lithium-ion EV battery pack declined by 20% annually to $115 per kilowatt-hour (kWh) in 2024, BNEF's survey found. While the IEA is more optimistic about battery pack prices falling below the $100/kWh threshold, it couldn't ignore the Chinese dominance in battery production and its cheap battery packs.
The value of USD 115 per kilowatt hour at the pack level comes from BloombergNEF's annual analysis of battery prices. For the study, the experts at BNEF analysed 343 'data points' (i.e. known battery prices) from electric cars, electric buses and electric trucks. At 115 USD/kWh, a 75-kWh battery would cost 8,625 dollars or about 8,220 euros.
The current cost estimate of $118 per kilowatt-hour of rated energy ($139/kWhUseable), is derived using the peer reviewed and publicly available BatPaC battery cost modeling software developed at Argonne National Laboratory.
PDF version includes complete article with source references.
Get technical specifications, ROI analysis tools, and pricing information for our BESS integration and energy storage solutions.
Av. de la Innovación 15
28042 Madrid, Spain
+34 91 133 2769
Monday - Friday: 9:00 AM - 6:00 PM CET