Tesla's giant battery saved $40M during its first year, report says
This is going to become more and more common. Li-ion battery costs are falling at a constant ~15% per year and there is no real reason why this shouldn&#x27;t continue. Similar to what Moore&#x27;s law did to semiconductors, this will mean that batteries are poised to have a massive impact and eat any energy application that can&#x27;t keep up. New tech will have a hard time to keep up simply due to momentum this has already developed, aka it will have to be at least a magnitude better AND keep on scaling.<p>This is why Tesla is valued higher than GM, Daimler or pretty much any other car company. Tesla at it&#x27;s heart is a battery company with products built around that. From what I&#x27;ve read, from 2025 onwards traditional internal combustion engines will not be able to compete on price with electric cars.<p>Something similar will likely happen to energy storage, though this is of course still a relatively novel industry that has been spurred on by renewable energy&#x27;s intermittent availability. Interesting times..<p>Edit: percentage of annual battery price drop after doing some googling