According to an MIT team, by far the biggest factor was work on research and development, particularly in chemistry and materials science, rather than gains achieved through economies of scale, which is only the second most significant reason for the reductions.
The findings could be useful for policymakers and planners to help guide spending priorities in order to continue the pathway toward ever lower costs for this and other crucial energy storage technologies, the researchers said.
The project also suggests there is still considerable room for further improvement in electrochemical battery technologies.
The analysis required digging through a variety of sources, since much of the relevant information consists of closely held proprietary business data.
“The data collection effort was extensive,” said lead author Micah Ziegler. “We looked at academic articles, industry and government reports, press releases, and specification sheets. We even looked...