Battery Market Evolution: A Decade of Change

When you think of batteries, you might picture charging a phone or laptop. But it’s the energy industry that has transformed the battery market over the past decade. Today, over 90% of battery demand comes from the energy sector, driven by record-breaking electric car sales and the rapid growth of battery storage to support power grids around the world.

In this episode, we hear from Teo Lombardo, an IEA analyst specialising in batteries, and Araceli Fernandez Pales, the head of the IEA’s Technology Innovation Unit. They explain how batteries work and their role in modern energy systems, as well as why prices have fallen dramatically in recent years and what innovations could drive further growth.