Lithium Valley Main Report 2018
The price of lithium ion batteries has been dramatically reducing as manufacturers gear up for electricity storage and especially electric vehicles (Figure 2 ).
Figure 2: Global Annual Use of Lithium Batteries 2
Global annual use of lithium batteries (Devices, Electric Vehicles, Storage)
1000
1250
800
1000
600
750
400
500
200
250
0
0
2010 2011 2012 2013 2014 2015 2016 2017 2018 2019 2020 2021 2022
Battery (GWh)
Battery Projection (GWh)
Price (USD)
Battery Price Projection (USD)
Source: Future Smart Strategies
Renewable energy from wind and solar requires battery storage. The projected growth in renewable energy and battery storage is shown in Figure 3 .
Figure 3: Global Renewables Capacity Projections 3
Global Renewables Capacity 2005 - 2017 with Projections to 2025
2500
6000
Wind Wind Projection Solar PV
5000
2000
4000
Solar PV Projection Solar CST Projection Batteries Projection
1500
3000
1000
2000
500
1000
0
0
2005 2006 2007 2008 2009 2010 2011 2012 2013 2014 2015 2016 2017 2018 2019 2020 2021 2022 2023 2024 2025
Source: Future Smart Strategies
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