Battery prices falling, jobs increasing and a flying EV can be yours
In this issue:
Battery prices continue to fall
Despite increasing metal costs, battery prices continue to fall and now stand at an average US$108 (NZ$186) per Kilowatt-hour, according to BloombergNEF. The biggest price drop (45%) was seen in battery packs for stationary storage, with their price now standing at an average US$70/kWh (NZ$121/kWh). The price of battery electric vehicle packs now stands at an average US$99/kWh (NZ$171/kWh).
A future we choose
The 7th Edition of the Global Environment Outlook (subtitled: A Future We Choose) from the UNEP has just been published. Claiming to be “the most comprehensive scientific assessment of the global environment ever carried out”, it tells us without dramatic intervention on climate change, the world will suffer an additional 9 million premature deaths and see a 4% fall in annual, global GDP. However, with appropriate investment these lives would be saved, 200 million people would be lifted out of extreme poverty and the economic benefits would reach US$20 trillion (NZ$34.5trn) a year by 2070.
Jobs on the increase
The World Energy Employment report for 2025, just published by the IEA, tells us employment in the energy sector is increasing twice as fast as the global economy as a whole. There were 76 million people employed in the energy sector in 2024 and the sector accounts for 2.4% of all jobs created over the last five years. The power sector accounted for three quarters of recent growth and is now the largest energy employment sector, surpassing fuel supply.
Asset owners increasingly worried about climate risks
The latest FTSE Russell survey of asset owners across 24 countries reveals more and more are becoming concerned about climate risk. The report tells us nearly 85% now consider climate risk to be a “major concern”. In 2023 the number was 50%. 73% of asset owners claim to take sustainability into account when selecting investments. The surveyed group comprised 415 asset owners: 46% pension funds, 16% insurance companies, 16% government-related and sovereign wealth funds, 14% endowments, foundations & family offices and 8% other.
Giant battery charged up
This week saw the on switch flicked for Victoria’s giant battery storage facility at Plumpton. The facility comprises 444 Tesla Megapack units, with a combined capacity of 1.6GWh. It is capable of supplying power to 200,000 homes.
Did you know ……
You can now place an order for an electric, flying car? Alef Aeronautics has commenced production of its flying, electric car and you can now place an order to be one of the first to own one. The car passed its airworthiness certification in 2023 and the first few production vehicles will be tested in controlled, real-world conditions. The Model A has a driving range of 354kms and a flying range of 177kms. It is priced at US$300,000 (NZ$517,000) and, apparently, 3,500 orders have already been placed. There’s no mention of a right hand drive version.
