Understanding the factors driving cost reductions in battery cells is crucial for staying competitive. As demand for energy storage skyrockets, the pressure to reduce costs has never been higher. Material costs are not the only thing influencing prices, breakthroughs in cell chemistry, system efficiency and manufacturing practices all play a role in determining system prices.

In this week’s episode, Head of Battery Costs at CRU - Aaron Wade joins Ed Porter to explore the latest in supply chain insights and cost projections, and what they mean for the future of energy storage. Over the conversation, they discuss:

• The impact of material costs on cell pricing, focusing on lithium trends.
• How cell and system innovation has contributed to lower costs.
• Changed in cell chemistry and how LFP has risen to dominance.
• Insights into the supply chain and manufacturing globally.
• What the future of battery costs might look like.

About our guest

CRU group provide business intelligence on the global metals, mining and fertilizer industries through market insight, commodity data and price assessments, strategic consultancy and communities and events. For more information, head to their website.

Aaron is Head of Battery Costs at CRU group, where he leads a team of analysts and researchers who provide insights and forecasts on the global battery costs, production methods, and technology trends. Find him on LinkedIn.

About Modo Energy

Modo Energy provides forecasts, benchmarking, data, and insights for new energy assets - all in one place. Built for analysts, Modo helps the owners, operators, builders, and financiers of battery energy storage solutions understand the market - and make the most out of their assets.

All of our podcasts are available to watch or listen to on the Modo Energy site. To keep up with all of our latest updates, research, analysis, videos, podcasts, data visualizations, live events, and more, follow us on Linkedin or Twitter. Check out The Energy Academy, our video series of bite-sized chunks explaining how different battery energy storage systems work. For more information battery energy storage and cell costs, check out our written research.