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On a regional basis, average battery pack prices were lowest in China, at $94/kWh, while packs in the US and Europe were 31% and 48% higher, and this gap has grown on previous years in light of ''fierce competition in China''. The same trend has been noted for battery energy storage systems (BESS).
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Not only are lithium-ion batteries widely used for consumer electronics and electric vehicles, but they also account for over 80% of the more than 190 gigawatt-hours (GWh) of battery energy
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