• Skip to primary navigation
  • Skip to main content
  • Skip to primary sidebar
  • Skip to footer

My TechDecisions

  • Best of Tech Decisions
  • Topics
    • Video
    • Audio
    • Mobility
    • Unified Communications
    • IT Infrastructure
    • Network Security
    • Physical Security
    • Facility
    • Compliance
  • RFP Resources
  • Resources
  • Podcasts
  • Project of the Week
  • About Us
    SEARCH
Compliance, News

Here’s What Decision Makers Need to Know About the Battery Market

With 2020 approaching, the battery industry is dropping in price, which is making technology, including electric vehicles, more accessible to consumers.

December 24, 2019 Jessica Messier Leave a Comment

iron-ion battery

Electric vehicles might become cheaper in the near future. That’s because the cost of batteries is going down, Utility Dive reports.

Citing a recent report by Bloomberg New Energy Finance (BNEF), advancements in battery technology have “driven down [battery] costs at rates faster than previously predicted.” Back in 2016, battery prices were at $300 per kilowatt hour (kWh), and were projected to drop to $120/kWh by 2030. However, BNEF says that battery prices might hit $100/kWh by 2024, even with “hiccups along the way.” From there, the BNEF predicts that batteries will get to $60/kWh in 2030.

Utility Dive also says that the BNEF report suspects that the global lithium-ion battery market will grow from today’s value of $20 billion to $60 billion by 2025, and almost $120 billion by 2030.

Why This Matters for Electric Vehicles and Beyond

Because the cost of batteries keeps dropping, it lowers the costs of electric vehicles, too. It also enables battery storage projects to better compete in electricity markets. “For example, the electrification of commercial vehicles, like delivery vans, is becoming increasingly attractive,” BNEF said.

Similarly, cheaper battery prices increase their attractiveness in multiple industry sectors. For example, earlier this year, Amazon ordered 100,000 electric delivery vans; international shipping company DHL is going to pilot its electric delivery vehicles in the U.S. next year.

Utility Dive says that low battery prices will continue to be “the most critical goal for mass market electric vehicles,” but it will also help in other ways. Specifically, batteries in certain vehicles applications, including commercial delivery, may spark more differentiation in battery cells based on customer demand. It could also inspire consumers to put more value in battery life cycles rather than prices, which would add another string of changes to the battery industry. Only time will tell, especially with 2020 around the corner, how the industry will continue to morph and become more accessible to the consumer market.

If you enjoyed this article and want to receive more valuable industry content like this, click here to sign up for our digital newsletters!

Tagged With: Energy Management, Green Technology

Related Content:

  • Cloud, SASE, Aryaka How the Cloud is Redefining Media Production and…
  • Singlewire Software mass notification interview Singlewire Software on Mass Notification Solutions
  • URI catchbox 1 Catchbox Plus: The Mic Solution That Finally Gave…
  • Engaging virtual meeting with diverse participants discussing creative ideas in a bright office space during daylight hours Diversified Survey: Workplace AV Tech is Falling Short,…

Free downloadable guide you may like:

  • ChatGPT, generative AI, enterprise, workplaceBlueprint Series: ChatGPT and Generative AI in the Workplace

    This latest release of the TechDecisions Blueprint Series explores the new phenomenon of tools such as ChatGPT and how IT leaders should go about deploying generative AI in their organizations.

Reader Interactions

Leave a Reply Cancel reply

Your email address will not be published. Required fields are marked *

Latest Downloads

Practical Design Guide for Office Spaces
Practical Design Guide for Office Spaces

Recent Gartner research shows that workers prefer to return to the office for in-person meetings for relevant milestones, as well as for face-to-fa...

New Camera Can Transform Your Live Production Workflow
New Camera System Can Transform Your Live Production Workflow

Sony's HXC-FZ90 studio camera system combines flexibility and exceptional image quality with entry-level pricing.

Creating Great User Experience and Ultimate Flexibility with Clickshare

Working and collaborating in any office environment today should be meaningful, as workers today go to office for very specific reasons. When desig...

View All Downloads

Would you like your latest project featured on TechDecisions as Project of the Week?

Apply Today!

More from Our Sister Publications

Get the latest news about AV integrators and Security installers from our sister publications:

Commercial IntegratorSecurity Sales

AV-iQ

Footer

TechDecisions

  • Home
  • Welcome to TechDecisions
  • Contact Us
  • Comment Guidelines
  • RSS Feeds
  • Twitter
  • Facebook
  • Linkedin

Free Technology Guides

FREE Downloadable resources from TechDecisions provide timely insight into the issues that IT, A/V, and Security end-users, managers, and decision makers are facing in commercial, corporate, education, institutional, and other vertical markets

View all Guides
TD Project of the Week

Get your latest project featured on TechDecisions Project of the Week. Submit your work once and it will be eligible for all upcoming weeks.

Enter Today!
Emerald Logo
ABOUTCAREERSAUTHORIZED SERVICE PROVIDERSYour Privacy ChoicesTERMS OF USEPRIVACY POLICY

© 2025 Emerald X, LLC. All rights reserved.