As per MIT researchers, Cost of Batteries have come down 97% since 1991

Energy Storage Feed

The costs of lithium-ion battery storage have decreased 97% since commercial market introduction in 1991, according to MIT researchers who have presented a new methodological approach to support their claim previous models underestimated the reduction.

The MIT group considered extra data points, including specific energy and energy density figures, to better determine how much lithium-ion technology has improved.

From 1992 to 2016, the researchers added energy capacity and energy density to standard cost development considerations.