For so many years now, I've had clean energy detractors telling me how renewables, and then batteries are WAY too expansive, and cost reductions won't go on for ever, and we need to stick to good old fossil fuels. And every year I point to the cost reductions on solar, wind and batteries. The tide broadly has turned, but so many still bury their heads in the sand. Cleantech is just better. Not just better for the environment, for pollution and carbon reduction, but just better. EVs are better and more efficient than ICE, renewables are more efficient than dirty power plants. It's just better, and that is why the tide has turned.
For over 5 years now, Hyperion has been driving the transition towards clean energy and the adoption of e-mobility, by building teams for the most innovative cleantech companies, enabling them to find extraordinary people.
According to a recent analysis by Bloomberg New Energy Finance, average prices for battery packs fell by 87 per cent to 156 dollars per kilowatt-hour in 2019 compared to the 2010 level. According to BNEF, the 100 US dollar/kWh mark could be broken by 2024. Bloomberg primarily attributes the cost reductions achieved in 2019 to the increasing order volumes, the general sales growth with BEV and the growing spread of cathodes with higher energy density over the last nine years. For the future, experts expect new battery pack designs and lower manufacturing costs to further lower prices in the near future.