We’re getting some interesting news lately about the pace of cost reductions in the lithium ion battery industry and it could bode well for new industries forming today. According to energy storage company Stem’s Chief Technology Officer, battery prices have fallen a whopping 70% in the last 18 months.
Battery prices are key to unlocking energy storage in homes, at large buildings, and at utilities that could shave peak energy costs and allow more renewable energy to hit the grid. And for electric vehicles, falling battery costs could make it attractive for millions more people to buy an EV.
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