The cost of solid-state batteries (SSBs) is projected to drop significantly over the next decade due to several factors including scaling of production, technological advancements, and increased investments from major manufacturers.
Cost Projections and Trends
- Analysts forecast solid-state battery costs to decline to around $75 per kWh by 2028, with potential further reductions to approximately $65 per kWh in the years following.
- Other expert predictions suggest costs could fall to between $75 and $100 per kWh by 2030 due to scaling manufacturing. Some optimistic estimates even propose costs as low as $50 per kWh by 2030, driven by improvements in energy density and production efficiency.
- Semi-solid-state batteries, a hybrid variant already in some commercial use, currently have higher costs (around $0.14 per Wh), but their prices are expected to fall below $0.04 per Wh (equivalent to $40 per kWh) by 2035 due to scaling and improved manufacturing methods.
Drivers Behind Cost Decline
- Scaling Production: Pilot production of all-solid-state batteries is ramping up, with GWh-level capacity expected by 2027 from manufacturers such as Toyota, Nissan, and Samsung SDI. As production volume increases, economies of scale will reduce unit costs.
- Technological Advances: Improvements in materials and design are boosting energy density by up to 50% by 2030, which lowers the cost per unit of energy stored. Solid-state batteries are also 30-40% lighter than traditional lithium-ion batteries, offering efficiency gains that enhance overall cost-effectiveness.
- Major Industry Investments: Automotive and battery companies like Toyota, QuantumScape, Samsung, Solid Power, and CATL are investing billions into R&D, expediting advancements and cost reductions.
- Supply Chain and Materials: Although raw material price volatility caused temporary slowdowns in cost reduction trends around 2022, ongoing supply chain improvements and alternative materials development are expected to support further cost declines.
Summary
In essence, through increasing production scale, breakthrough innovations, and strategic investment, the cost of solid-state batteries is expected to fall sharply from current premium levels to as low as $50-$75 per kWh by 2030. This will rapidly improve the commercial viability of SSBs across electric vehicles and energy storage sectors, enabling broader adoption and transformational impacts on battery-powered technologies.
This trend marks a transition from solid-state batteries being a costly niche technology to an affordable, mass-market solution within the next decade.
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