Demand for large capacity battery storage cells goes strong as prices continue to slide

Marija Maisch | Source: PV Magazine | Posted 09/14/2024

The analysis from Taipei-based intelligence provider TrendForce finds that the average price for lithium iron phosphate (LFP) energy storage system cells continued to slide in August, reaching CNY 0.35/Wh ($0.049/Wh). Meanwhile, demand for large capacity cells continued to grow at a steady pace.

AI generated summary

As raw material prices decrease, battery cell costs are also falling. Price drops in battery-grade lithium carbonate, cobalt, and nickel salts have led to declines in prices for cathodes, electrolytes, and other battery components, according to market analysts. Demand for grid-scale energy storage system battery cells rose in August, with larger capacity energy storage cells becoming more popular and prices continuing to fall.

Prices for EV cells have also decreased, with average prices for different types of battery cells dropping in August. While oversupply of lithium is expected to continue, analysts anticipate a short-term rebound in lithium salt prices during the upcoming traditional peak season. Despite uncertainties in China’s NEV sector due to international trade risks, battery makers are likely to increase stocking as lithium prices near their lows.

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Source Link: https://pv-magazine-usa.com/2024/09/13/demand-for-large-capacity-battery-storage-cells-goes-strong-as-prices-continue-to-slide/

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Demand for large capacity battery storage cells goes strong as prices continue to slide

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