Dec. 3 — Average market prices for battery packs have plunged from $1,100/kWh in 2010 to $156/kWh in 2019, an 87% fall in real terms. Customers purchasing batteries at a commercial scale for electric vehicles and energy storage, as well as using high energy density cathodes to store energy more efficiently in battery packs, are all spurring the price decline.

— Utility Dive