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Electric vehicle batteries are getting cheaper much faster than we expected
The truly surprising part of Tesla’s Powerwall announcement, however, was its price point. In 2014, the average cost of installing a stationary Li-ion battery in a California home was $23,429, according to The Wall Street Journal. In May, Tesla CEO Elon Musk said that these batteries would start at $3,500, plus a $500 installation cost.
Good news for green and sustainability fans, price of Li-Ion batteries are falling. In less than one year, a home-solution dropped down from $20,000 to $4,000.
A corresponding automotive solution, dropped from $1,000 per KWh to $450. Top brands, like Tesla and Nissan (for its Leaf e-car) are already purchasing at $310 per KWh.
Many analysts are indicating the $150 threshold to set for a true explosion and success of the full electrical powered automotive solution if compared to traditional fuels.
Can’t wait to get that closer!