18 JUNE 2026
A key driver of the green energy transition has been the steady decline in the cost of renewables and the supporting infrastructure.
Battery prices are a case in point.
Batteries are not a source of energy themselves, but they do influence energy storage costs.
The chart below shows how the price of battery grade lithium fell sharply between 2023 and 2025, sparking a surge in electric vehicle adoption, especially in China.
However, supply constraints have seen battery prices rebound modestly this year.
Alternative energy costs are likely to continue heading lower long-term, but recent developments highlight how fragile global commodity markets can create temporary disruptions to this trend.
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