Chart of the month: Driven by Tesla, battery prices cut in half since 2014 (ThinkProgress)

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"Bloomberg New Energy Finance (BNEF) reports that lithium-ion battery prices have fallen “by almost half just since 2014” and “electric cars are largely responsible.” Last year, BNEF called this “the miracle of Musk,” referring to Elon Musk, the CEO of Tesla, which jump-started the stagnant EV business and whose gigafactory will keep putting downward pressure on battery costs.
In 2013, the International Energy Agency estimated EVs would achieve cost parity with gasoline vehicles when battery costs hit $300 per kiloWatt-hour of storage capacity, which the IEA said would happen by 2020. That price point was in fact crossed last year, which is why both GM and Tesla announced they could deliver affordable (well below $40,000), long-range (200-plus miles) EVs."

Chart of the month: Driven by Tesla, battery prices cut in half since 2014