The Mack Institute asks
What will be the 2017 industry-wide average cost of Li-ion batteries used in battery-powered electric vehicles?
This question will be resolved using the Mack Institute's analysis for 2017, which will replicate an approach published in a 2015 Nature Climate Change study. In 2016, using a similar method, the Mack Institute found that the average price had declined to $282 per kWh (Mack Institute). Lowering the cost of battery packs through R&D investments, manufacturing improvements, and economies of scale is a major consideration for bringing down the price of battery-powered electric vehicles (BEVs) and making them more competitive with gasoline-fueled internal combustion engines (Bloomberg, The Guardian).
Mack notes that they did not find any acceleration in the cost trend as many pundits have argued, but that GJO forecasters had it spot on! The Mack Institute has completed the new analysis for the 2017 battery costs. Based on the latest data, they found the industry-wide average cost of battery packs in 2017 was US $236 per kWh. The cost reduction trended at the same rate as last year with a 16% reduction in annual cost (The Mack Institute). This question closed as "More than $230 but less than $245 per kWh" with an end date of 1 January 2018.