Global energy storage system prices hit record low as costs fall 31%

Energy storage system prices have fallen to their lowest level on record, dropping to a global average of $117/kWh in 2025.
The new figures come from BloombergNEF’s Energy Storage System Cost Survey 2025, which reports a 31% decrease compared with 2024.BNEF says the decline is driven by continued reductions in lithium-ion battery prices, rising supplier competition and a shift to higher-energy-density cell and container designs.
These factors are reshaping the economics of utility-scale s