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Lithium-ion batteries, developed by John Goodenough, M. Stanley Whittingham, and Akira Yoshino (2019 Nobel Prize in Chemistry), store and release electrical energy through lithium ions moving between electrodes. They power virtually every portable electronics device, are the foundation of electric vehicle adoption, and are increasingly used for grid energy storage.
Lithium battery energy density has improved by 97% and costs have fallen 99% since 1991, following a learning curve similar to solar panels. EV batteries now store enough energy to power a home for days. The global lithium battery market is projected to reach $600 billion by 2030. Concerns about lithium mining's environmental impact and conflict minerals in cobalt remain significant.
# Top 10 Lithium Battery facts
- 1Lithium battery costs have fallen 99% since 1991 — from $7,500/kWh to about $75/kWh
- 2John Goodenough won the Nobel Prize at age 97 — the oldest Nobel laureate in history
- 3The Gigafactories being built by Tesla, BYD, and others represent the largest industrial expansion in history
Fascinating Facts
- ◆Lithium battery costs have fallen 99% since 1991 — from $7,500/kWh to about $75/kWh
- ◆John Goodenough won the Nobel Prize at age 97 — the oldest Nobel laureate in history
- ◆The Gigafactories being built by Tesla, BYD, and others represent the largest industrial expansion in history
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