Relentless cost reductions over the past decade have made solar panels and wind turbines increasingly competitive with coal and natural gas.
Now the same thing is happening with batteries, allowing electric cars to become cheaper and electric grids to store surplus energy for when it is needed.
The cost of lithium-ion batteries has fallen by 75 per cent over the past eight years, measured per kilowatt hour of output. Every time battery production doubles, costs fall by another 5 per cent to 8 per cent, according to analysts at Wood Mackenzie.
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