Electric Vehicle Adoption and Energy Storage Boom
The declining costs of batteries are driving the transition toward electrified transport and supporting global power grid storage, evidenced by UK pricing milestones.
January 2025
EU added 12 GW of power from batteries
In 2025, the European Union added approximately 12 GW of extra power output from batteries to its infrastructure. This addition was alongside 25 GWh of total energy storage capacity.
Source ↗April 2026
Battery costs decline over three decades, enabling electrified transport
The cost of batteries has seen a remarkable decline of 99% over the past thirty years. This significant reduction has made energy storage substantially more affordable. Consequently, electrified transport is now widely achievable.
Source ↗Average UK electric car price surpasses petrol vehicle parity milestone
Autotrader reported that the average price of a new electric car in the UK is now lower than the average price of a petrol vehicle. This represents a cost differential of £785 for the average EV compared to its fossil fuel counterpart.
Source ↗Average UK EV price drops below petrol vehicles cost
Autotrader reported that the average price of a new electric car in the UK was £785 cheaper than the average petrol vehicle. This signals a milestone in the transition away from fossil fuels.
Source ↗Iran War fuels energy storage boom
The Iran War is noted as a factor contributing to the boom in energy storage. This escalation in conflict contributes to rising energy demands and battery technology costs.
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