Battery costs have shaped the pace and scale of the energy transition. For years, falling cell prices underpinned bullish business cases, opened up new flexibility markets, and helped grid-scale storage move from niche to mainstream.

But what happens when those cost declines level off?In this episode of Transmission, Aaron Wade returns to unpack the state of battery pricing in 2025. With lithium prices stabilising and cell costs holding firm in the $40–50/kWh range, the era of dramatic year-on-year price drops appears to be over.

That shift is changing how developers plan, how integrators position themselves, and what buyers prioritise when building or procuring storage.

We dig into the structural factors behind the price plateau, explore the commercial and technical implications, and ask: if price is no longer the main lever - what is?

In this episode we explore

⚡ Why have cell prices stabilised around $40–50/kWh and what’s keeping them there?

⚡ Are the big cost drops over for battery manufacturing?

⚡ What matters more than price now when designing storage systems?

⚡ How integrators are adapting to a more stable, competitive market

⚡ Are buyers over-specifying solutions and adding avoidable cost?

About our guest

Aaron is a leading figure in the battery industry, currently serving as the Business Development Lead at Gaussion, a UK-based startup focused on enhancing battery performance through magneto-enhancement technology. He also holds the position of Project Director at the Volta Foundation, where he co-authors the annual Battery Report and organizes European networking events to foster collaboration within the battery community. You can find Aaron on LinkedIn

About Modo Energy

Modo Energy helps the owners, operators, builders, and financiers of battery energy storage solutions understand the market - and make the most out of their assets.

All of our podcasts are available to watch or listen to on the Modo Energy site. To keep up with all of our latest updates, research, analysis, videos, podcasts, data visualizations, live events, and more, follow us on LinkedIn or Twitter. Check out The Energy Academy, our bite-sized video series breaking down how power markets work.

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Battery Costs - Are They Declining? A Global Perspective with Aaron Wade (Gaussian)

Transmission

Battery Costs - Are They Declining? A Global Perspective with Aaron Wade (Gaussian)