Most lithium-ion batteries cost $10 to $20,000, depending on the device it powers. An electric vehicle battery is the most expensive, typically costing $4,760 to $19,200. Next is solar batteries, which usually cost $6,800 to $10,700. However, most outdoor power tool batteries only cost $85 to $330, and cell batteries can run as little as $10.
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Due to an increasing concern about climate change, there is a high public interest in battery technology. Lithium-ion (Li-ion) batteries are a source of clean, renewable energy. However, many consumers looking to switch from gas-guzzling power tools and automobiles are left wondering how much Li-ion batteries cost, so we broke it down for you.
In this cost guide:
Average costs of a lithium-ion battery in
Average lithium-ion battery cost$10 &#; $20,000Average electric vehicle battery cost$4,760 &#; $19,200Average solar battery cost$6,800 &#; $10,700Average outdoor tool battery cost$85 &#; $330Average personal electronic battery cost$10 &#; $90We searched for batteries on various online platforms (i.e., Home Depot, BestBuy, Amazon, BatteriesPlus) and researched financial data from news and government reports to bring you the full scope of lithium-ion battery prices. If you are looking for a low-cost battery, consider buying one that is used or refurbished.
Cost by device
Larger devices need more power leading to higher battery prices. So we broke down Li-ion battery costs by the type of device it powers:
Electric vehicle (EV) batteries
Most EV battery packs cost $4,760 to $19,200. However, if you want to save money, consider a used battery. We searched online for used and refurbished EV batteries and found them for as low as $750.
EV battery pack costs differ by auto manufacturer, as shown in the table below.
AutomakerTypical battery costTesla$11,000 &#; $20,000Toyota (Hybrid)$2,000 &#; $8,000Hummer$10,000Volkswagen $12,000 &#; $15,000*The prices in the table above are for the battery only, and do not include installation costs.
Solar panel batteries
Solar panel batteries typically cost $6,800 to $10,700 (not including installation). Solar batteries are essential to a solar energy system because they store excess energy that you can use when the sun isn&#;t shining. The more power your solar batteries store, the higher their price and the less dependent you are on the grid.
Most outdoor power tool batteries cost between $85 and $330.
Average cost$205Typical price range$85 &#; $330Extreme low end cost$40Extreme high end cost$600The cost of a power tool&#;s battery depends on its voltage, amp hours, and the brand. The table below shows typical battery cost by brand.
BrandTypical costDewalt$60 &#; $240Ego$180 &#; $600Greenworks$40 &#; $300Kobalt$100 &#; $360Milwaukee$65 &#; $300Ryobi$100 &#; $200High-efficiency Li-ion batteries, such as Ego&#;s ARC lithium batteries, cost more than a standard Li-ion battery.
Personal electronics batteries
Most personal electronic batteries cost $9 to $90, as shown in the table below.
ElectronicTypical battery costCellphone$10 &#; $35Tablet$15 &#; $50Laptop$20 &#; $90Less powerful electronics require a less powerful battery, so expect cutting-edge technology to run on an expensive battery.
Cost by kilowatt-hours
According to BloombergNEF, the average lithium-ion battery costs $151 per kilowatt-hour (kWh), and the average battery-powered electric vehicle (BEV) battery costs $138 per kWh. In the average per kWh cost was $141. However, overall Li-ion costs have dramatically decreased over the last ten years.
What is a kWh? Kilowatt-hours (kWh) measure a battery&#;s energy storage capacity. A kilowatt (kW) is a unit that measures electric energy consumption, and a kilowatt-hour is the energy a 1-kW device consumes in an hour. To calculate a battery&#;s kWh, use the following formula:
kWh = Amp hours × Voltage ÷ 1,000So, if you have a 12-Ah 100-volt battery, its kWh would equal 12 x 100 ÷ 1,000. Thus, it is a 1.2 kWh battery.
Other factors that affect cost
The cost of a lithium-ion battery is also impacted by the following:
Battery type
The cost of a Li-ion battery depends on its chemistry. For example, batteries containing semi-precious metals cost more than batteries made from inexpensive raw materials.
Here are the most popular types of Li-ion batteries:
Voltage
The more power a battery contains, the more it will cost. Therefore, batteries with a higher voltage (volt) are more expensive. Electric vehicle and solar panel batteries are often described with kilowatt-hours, but most power tool batteries are less than one kWh and described using voltage and amp hours.
The table below shows the average cost of a power tool battery based on its voltage.
VoltageAverage cost12 &#; 24 $ &#; 40$ &#; 60$+$335Amp hours
The more amp hours (Ah) a battery has, the longer a device can run on a single battery charge. So next, we&#;ll break down the cost of a power tool battery by Ah. Please see the results in the table below.
Amp hoursAverage cost2 &#; 2.5$$ &#; 6$ &#; 9$ &#; 12$335You may be interested in products that run on lithium-ion batteries, including:
Solar panel installation
Most homeowners pay $15,000 to $26,000 for solar panel installation, but the cost of solar panels depends on the type of panels, the size of the home, and labor costs. However, federal, state, and local incentives significantly reduce that price. Additionally, most homeowners enjoy an energy cost reduction that allows them to recoup their costs in 6 to 10 years.
Average cost$20,000Typical price range$15,000 &#; $26,000Extreme low end cost$5,000Extreme high end cost$50,000Battery-powered outdoor tools are soaring in popularity due to environmentally conscious consumers and lawmakers. In fact, Washington University in St. Louis reports that gas tools (such as leaf blowers and lawn mowers) pollute the air more than cars. In contrast, most battery tools release zero emissions.
However, gas-powered tools aren&#;t just bad for the air; they are also noisy, painful to maintain, and expensive. Furthermore, recent technological advances have paved the way for a new generation of beastly battery tools that can compete with gas-powered models. So, consider investing in battery-powered tools. They are easier to use and typically cost less than the gas alternative.
Lawn mowers
Most battery-powered lawn mowers cost $215 to $730, but riding mowers can cost as much as $4,000. Since gas lawn mowers are one of the largest contributors to air pollution, you should check out our list of the 8 best battery-powered lawn mowers.
Average cost$475Typical price range$215 &#; $730Extreme low end cost$150Extreme high end cost$4,000Leaf blowers
Most battery-powered leaf blowers cost $100 to $250, which is significantly less than gas-powered models. And there is no need to worry about their strength because the best battery leaf blowers will blow you away!
Average cost$150Typical price range$100 &#; $250Extreme low end cost$65Extreme high end cost$500Snow blowers
Battery-powered snow blowers typically cost $300 to $1,800, so we researched and uncovered the 8 best battery snow blowers.
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Typical price range$300 &#; $1,800Average 1-stage blower$550Average 2-stage blower$1,380Chainsaws
A typical battery-powered chainsaw costs $180 to $380 and is great for pruning small to medium trees. However, the best battery chainsaws cost $270 to $480.
Average cost$280Typical price range$180 &#; $380Extreme low end cost$130Extreme high end cost$500Hedge trimmers
Most battery-powered hedge trimmers cost $60 to $200, and we compiled a list of the best battery-powered hedge trimmers.
Average cost$110Typical price range$60 &#; $200Extreme low end cost$35Extreme high end cost$1,135Electric vehicles
Lithium-ion automotive technology has given birth to various electric cars, SUVs, and pick-up trucks. Most electric vehicles cost $33,627 to $80,824, with luxury models costing significantly more than standard sedans.
Average cost$57,225Typical price range$33,625 &#; $80,825Extreme low end cost$27,400Extreme high end cost$2,400,000Landscape lighting
The right landscape lighting can add to your outdoor ambiance and increase your property&#;s curb appeal. Thankfully, there are many lithium-ion and solar-powered options to illuminate your landscape. Professionally installed landscape lighting typically costs between $2,100 and $4,900, but do-it-yourself battery-powered lighting is usually just $100 to $1,500.
Average cost$3,500Typical price range$2,100 &#; $4,900Extreme low end cost$500Extreme high end cost$7,000Cost of lithium-ion battery by location
Lithium-ion battery prices differ between countries. Li-ion batteries are the cheapest in China, but they have a lower cost in Europe than in the United States. About 80% of Li-ion battery cells are made in China.
FAQ about lithium-ion batteries
1. How many years will a lithium-ion battery last?Lithium-ion batteries usually last at least 2 to 5 years, but some can last as long as 15 to 20 years.
2. How damaging is lithium mining?Lithium-ion batteries are more eco-friendly than gas-powered products, but lithium mining negatively affects the environment in the following ways:
It requires a lot of water, and there often isn&#;t enough water left for local farmers and wildlife.
It deteriorates the soil structure.
It pollutes the air. According to MIT, most lithium is extracted from hard rock mines using equipment that runs on fossil fuels. As a result, 15 metric tons of CO2 are released into the air to get one metric ton of lithium.
It is better not to charge the battery fully; many Li-ion battery chargers say it is at 100% before it actually gets there. It is also better not to fully drain the battery before placing it on a charger. Not allowing the battery to charge or discharge fully will increase its lifespan.
Lithium-ion batteries have revolutionized the automobile and electronics market. They are safe, lightweight, and provide constant power. Although their cost has recently increased, the price has steadily decreased over the years.
Although EV maintenance is still expensive for many Americans, battery-powered outdoor tools are often less costly than their gas-guzzling counterparts. However, high-end equipment used by pros is costly. As a result, most homeowners prefer to let a lawn care pro handle the hard work.
Note: LawnLove may get a referral fee for matching you with contractors in your area.
Main Image Credit: Juan Ramon Roballo&#;s Images | Canva Pro | License
Michelle Selzer is a witty writer with a passion for plants and outdoor power tools. When she's not out in the yard, Michelle enjoys fishing, hunting, and chasing waterfalls.
There is industry-wide anticipation of a surge in energy storage expansion thanks to the falling cost of lithium-ion batteries. Lower lithium prices will mean better deals and more opportunities for certain sectors of the storage market.
This is welcome news as growth in demand for lithium-ion battery packs, which are key to the electrification of vehicles and many electrical grid storage projects, looked as if it was going to fail to reach the more optimistic industry predictions of the early s.
According to a report from research provider BloombergNEF, the cost of battery packs fell by 14%, towards the end of last year after experiencing unprecedented price hikes in . This significant decrease has enabled the industry to dial back the &#;pause&#; policies put in place because of rising costs.
Manufacturers had previously reported lower utilization rates in their plants, with demand and revenue falling short of the expectations of many companies. Additionally, several electric vehicle and battery manufacturers were forced to revisit their production targets.
But now, concerns about sustained high lithium prices have largely disappeared. The recent reduction in price is down to several factors. First gnarly COVID-related supply chain issues are now in the rearview mirror.
Added to this is a fall in the cost of components and raw materials due to expanded production capabilities throughout the battery supply chain. Changes to cathode and anode materials, new pack designs and improved cell manufacturing processes will also be key to future price reductions.
With prices at a historic low of $139 per kilowatt-hour, the BloombergNEF data strongly suggests that the demand for lithium-ion battery packs is set to grow significantly, with a projected year-on-year increase of 53%. Last year saw global lithium-ion battery demand hitting topping 950 gigawatt-hours.
Lower costs mean projects that were put on the backburner may now find a new lease of life. BloombergNEF energy storage analyst Evelina Stoikou suggested initial hopes for lithium-ion technology were too high, but last year saw a significant shift.
She said: &#;It is another year where battery prices closely followed raw material prices. In the many years that we&#;ve been doing this survey, falling prices have been driven by scale learnings and technological innovation, but that dynamic has changed.
&#;The drop in prices this year was attributed to significant growth in production capacity across the value chain in combination with weaker-than-expected demand.&#;
According to BloombergNEF the cost of battery packs fell by 14% towards the end ofThe $139 per kilowatt-hour figure quoted in the BloombergNEF research is a composite of various battery types across different sectors, including electric vehicles, stationary grid storage and buses. Battery electric vehicle packs, which benefit from a greater production scale, are now at $128 per kilowatt-hour.
At the cell level, average prices for electric vehicle batteries were just $89 per kilowatt-hour. Regionally, the research shows that average battery pack prices were lowest in China, at $126/ per kilowatt-hour. Packs in the US were 11% higher, and in Europe they were 20%.
Historically, the West has favored nickel-manganese-cobalt batteries, although that is changing, while China is dominant in lithium-iron-phosphate (LFP) batteries. BloombergNEF&#;s analysis found that was the first year average LFP cell prices had fallen below $100 per kilowatt-hour.
Yayoi Sekine, head of energy storage at BloombergNEF, said: &#;Battery prices have been on a rollercoaster over the past two years.
&#;Large markets like the US and Europe are building up their local cell manufacturing and we&#;re keenly watching how production incentives and tightening regulations on critical minerals will impact battery prices.&#;
But just how inexpensive can lithium-ion battery storage become? When it comes to electric vehicles, industry analysts have long viewed the $100-per-kilowatt-hour threshold as a crucial milestone, after which cost-competitiveness would be guaranteed.
The US Department of Energy set a more ambitious goal in its Energy Storage Grand Challenge, aiming for an $80-per-kilowatt-hour manufacturing cost by (for a 300-mile range electric vehicle).
If prices continue to decline at a similar rate to last year, the industry will easily surpass the $100-per-kilowatt-hour mark within a few years, making the Department of Energy's target seem highly attainable. A further tailwind is that US policy is being mirrored by regulatory shifts favoring sustainability around the world.
These include new net zero targets and guidelines, including Europe&#;s &#;Fit for 55&#; program, a ban on new internal combustion engine vehicle sales in the European Union and India&#;s Faster Adoption and Manufacture of Hybrid and Electric Vehicles scheme.
Throw into the mix increased consumer demand for green technologies plus rising electric vehicle adoption rates and the picture is rosy. According to the International Energy Agency, electric vehicles made up 10% of global vehicle sales in and are on track to reach 30% by the end of this decade.
Furthermore, commodity data reporting agency Fastmarkets says more than 20 lithium mines opened last year. Expansion of lithium production, which is now expanding to Africa, is good news as mines take between 10 to 15 years to come online.
The price drop in lithium also followed the discovery of a massive reservoir of the metal last year, within an extinct super-volcano on the border of Nevada and Oregon in the US. According to estimates from geologists, the McDermitt Caldera could contain up to 120 million tonnes of lithium.
Canada-based Lithium Americas Corporation intends to start mining operations as early as , with plans to continue extraction for the next 40 years before backfilling the pit.
Even as new lithium reserves are uncovered, the battery industry is working to boost the materials efficiency of its products and improve recycling rates, further safeguarding future lithium-ion battery cost reductions. And for stationary storage, there is the option of even cheaper technologies than lithium-ion.
New technologies are being developed that can store energy in materials as cheap as rust, concrete and air. These concepts are often aimed at delivering large amounts of energy for hours or even days at a time&#;periods that cannot be covered cost-effectively with lithium-ion today because of the price of the batteries.
If they go mainstream, these technologies could render lithium cost concerns a thing of the past.
Publish date: 26 March,
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