Battery cell prices for energy storage fell in July, and prices may continue to decline in the future.

In July 2024, the average monthly price of 280Ah prismatic LFP energy storage battery cells was 0.33 yuan/Wh, down 4% MoM; the average monthly price of 100Ah prismatic LFP energy storage battery cells was 0.40 yuan/Wh, down 3% MoM; the average monthly price of 314Ah prismatic LFP energy storage battery cells was 0.36 yuan/Wh, down 7% MoM. According to SMM calculations, by the end of July, the theoretical cost of 280Ah energy storage battery cells was 0.321 yuan/Wh. Due to the decline in the prices of major raw materials and auxiliary materials for lithium batteries in July, the cost of 280Ah energy storage battery cells decreased by 3.3% compared to the end of June, further compressing their theoretical profit. Looking ahead, entering Q3, the market promotion of 314 battery cells will accelerate, and their capacity and maturity will gradually increase, leading to a rapid decline in the price of 314 battery cells. In contrast, although some companies adopt low-price strategies to increase market share, the price of 280 battery cells is already close to cost, so their future price decline space is limited, and prices are expected to remain relatively stable.