Insight
Lithium’s rebound: impacts on global energy storage system costs
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Report summary
This report explains the sharp rebound in lithium prices since mid‑2025 and how the surge is influencing global energy storage system (ESS) costs. It highlights that although lithium prices have more than doubled from their 2025 lows - potentially raising ESS costs by up to 10% in early 2026 - market fundamentals do not support a prolonged rally. Overall, we expect lithium and ESS costs to ease again by 2027 as lithium supply increases.
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