Average lithiumâion battery pack prices reached $115/kWh in December 2024, down 20% since 2023, accelerating project viability. utilityâscale battery capacity more than doubled in 2023 and is on track to more than double again, driven by solarâplusâstorage with fourâhour. The 2024 ATB represents cost and performance for battery storage with durations of 2, 4, 6, 8, and 10 hours. It represents lithium-ion batteries (LIBs)âprimarily those with nickel manganese cobalt (NMC) and lithium iron phosphate (LFP) chemistriesâonly at this time, with LFP becoming the primary. According to BNEF, battery pack prices for stationary storage fell to $70/kWh in 2025, a 45% decrease from 2024. While the pace of price decreases. Thermal energy storage and compressed air storage are the least expensive LDES technologies, at $232 per kilowatt-hour and $293 per kWh of capex, respectively, data from the survey shows. But here's the paradox: While global lithium.
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