Production costs in China are lower for all clean energy technologies, not just batteries. But which is lower and by how much?
From solar panels to wind turbines, heat pumps to batteries, this graph shows how much it costs to produce in China compared to how much it costs to produce in other countries. You can compare how much/what percentage more expensive it is to produce anywhere in the world than to produce in China.
Note: Costs for solar panels and batteries are based on the final production step only. Components such as cathodes or PV cells are assumed to be imported from China. For other clean technologies and materials, production is assumed to be fully domestic.
Image from the “Energy Technology Perspectives 2024” report just published by the International Energy Agency (IEA).
The IEA’s analysis is based on these data:
NREL (2017); NREL (2019); NREL (2023); Wood Mackenzie (2024); BNEF (2024a); IEAPVPS (2024); BNEF (2024b); IEA (2024a); IEA (2024g); Argonne (2024); JETRO (2024); Dai et al. (2019); and Frith,
Lacey, & Ulissi, (2023).