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Typically the world’s grid-scale energy storage capacity will need in order to grow nearly 35-fold between 2022 and 2030 if it is in order to achieve net-zero by 2050, according to World Vitality Organization (IEA). But the price of lithium started in order to plunge in late 2022 and is at a fraction of its peak level today. A Single reason is that major Chinese battery makers such as CATL and Gotion have expanded their lithium-processing capacity, Zhang says.