Battery Prices Expected To Be Under $100 Per kWh By 2020, Less Than $80 Per kWh Shortly After
From at CES 2017 in Las Vega, there was some discussion pertaining to battery cost per kWh, which has just now surfaced via Ward’s Auto.
The gist is that in 2010, the U.S Department Of Energy set a cost target of $125 per kWh. The DoE was hopeful the goal could be met within the next ten years or so. Way back then, that seemed an impossible target, but here we are today and “several EV experts” are saying that figure was actually conservative.
“Back in 2010 the Department of Energy set a cost goal of $125 per kilowatt hour for an EV battery pack by 2022, because that would make electric-propulsion systems equal to the cost of an internal-combustion engine. In addition to individual cells, the battery pack also includes the supporting structure, cooling mechanisms, and battery management systems. At the time no one saw a clear path of how to get to that cost. But at CES, several EV experts told me the DOE’s number is turning out to be a very conservative goal. They assured me those costs will be under $100 before 2020, and not long after that they will go down to about $80 per kilowatt hour.”
The report concludes that if the $80 per kWh figure is hit, General Motors would see the Chevy Bolt cost decrease by some $4,000. That’s just one example. In the bigger picture, this reduced target means that electric cars will reach wider adoption quicker than initially anticipated due to costs (and thus price tags) that are much lower than seen today.
The Ward’s article speculates that “in another decade sales of EVs in the U.S. alone could grow from 80,000 a year to 1 million a year.” Let’s hope this turns out to be true.