Part 6/8:
As battery prices continue to decline, BNF suggests that lithium-ion battery prices could drop even further, with potential price reductions of at least $3 per kilowatt-hour expected by 2025. The looming presence of alternative battery technologies—such as sodium-ion batteries—adds another layer of complexity, affording consumers even more choices. Additionally, innovations in manufacturing processes and technologies promise to enhance battery density significantly while keeping costs down.