Changes in average delivered costs of battery cells, 2024-2025

Sources

IEA analysis based on a range of data sources; see model documentation for details.

Notes

2025 values are estimated based on trade data for the first three quarters. The average cost in 2025 reflects the full impact of tariffs and duties announced as of 1 November 2025, without accounting for use of stockpiles of earlier imports. Delivered costs refer to the weighted average unit cost of supply, including both domestic production and imports, with the latter including tariff and transport costs. Costs presented are inclusive of explicit financial support mechanisms in industrial strategies, such as the production tax credits in the US Inflation Reduction Act. The increase in component costs due to tariffs and duties is included in “Material price changes”.