A report from Clean Energy Associates (CEA) has stated that the production of lithium-ion battery cells is expanding rapidly globally, with electric vehicles being the primary driver of demand. The report suggests that by 2025, global manufacturing of these cells is expected to triple from 2022 levels, largely due to incentives created by the Inflation Reduction Act of 2022. While the U.S. and Europe have a significant share of the global LIB battery production supply chain, it is still heavily dominated by China. The U.K. has taken an “aggressive approach” to LIB supply chain expansion through incentives such as the In inflation Reduction Act. However, upstream legs of the supply chain take a long time to set up, with brine mining, refinement, separators, and more requiring considerable time to reach operations. Goldman Sachs predicts a 40% reduction in battery pack prices over 2023 and 2024, followed by continued decline to reach a total 50% reduction by 2025-2026.
Solar Dominates US Energy Capacity Growth
The Federal Energy Regulatory Commission (FERC) has published data showing that solar accounted for over 75% of US electrical generating
