Average battery pack price per watt-hour index by battery chemistry, 2020-2025

Last updated 14 Apr 2026

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Sources

IEA analysis based on data from Bloomberg New Energy Finance.

Notes

LFP = lithium iron phosphate; NMC = lithium nickel manganese cobalt oxide; Average = average across EVs and battery storage applications and chemistries. Battery pack price refers to price per kWh.

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