The initial costs of lithium-ion batteries and lead-acid batteries differ significantly, primarily due to the higher upfront price of lithium-ion technology.
Lithium-Ion Battery Initial Costs:
- The average price of lithium-ion batteries as of 2023 and early 2024 is around $115 to $151 per kilowatt-hour (kWh), with a recent record low at about $139/kWh reported in late 2023.
- Prices vary depending on battery chemistry and manufacturing location, ranging roughly from $40 to $140 per kWh.
- The total purchase price depends on capacity and application, with smaller batteries (e.g., for power tools or phones) costing as little as $10–$200, while larger batteries for electric vehicles or solar storage systems may cost several thousand dollars (e.g., $5,000 to $20,000 for EV batteries and $7,000 to $11,000 for solar batteries).
Lead-Acid Battery Initial Costs:
- Lead-acid batteries generally have a lower upfront purchase price compared to lithium-ion batteries. According to available data, lead-acid batteries can be roughly 2.8 times cheaper per kWh than lithium-ion batteries.
- This means if lithium-ion batteries cost about $139 per kWh, lead-acid battery costs are closer to around $50 per kWh or less, making them the more affordable option initially.
Summary Comparison:
| Battery Type | Approximate Cost per kWh (2023-2024) | Typical Initial Cost Range |
|---|---|---|
| Lithium-Ion | $115 – $151 per kWh | $10 to $20,000+ depending on application |
| Lead-Acid | ~ $50 per kWh (about 2.8x cheaper) | Generally lower upfront cost than lithium |
In conclusion, lithium-ion batteries have a noticeably higher initial cost than lead-acid batteries but provide benefits such as longer life and better performance, which factor into the total cost of ownership. Lead-acid batteries are cheaper upfront but may require more frequent replacements and maintenance.
Original article by NenPower, If reposted, please credit the source: https://nenpower.com/blog/what-are-the-initial-costs-of-lithium-ion-batteries-versus-lead-acid-batteries/
