Wood Mackenzie finds sodium-ion battery supply deals exceed 70 GWh

Sodium-ion battery supply agreements now total more than 70 GWh as the technology enters commercial production, according to a Wood Mackenzie analysis reported by pv magazine. Agreements span China, the United States and Europe, while India remains in early commercial validation. Wood Mackenzie expects leading manufacturers to reach cell-level cost parity with lithium iron phosphate batteries by late 2026. Module and system cost parity is not expected until after 2030. Sodium-ion systems currently average $229/kWh globally, compared with approximately $200/kWh for lithium iron phosphate. Planned manufacturing capacity exceeds demand, and lithium iron phosphate remains the more commercially mature option for projects using two to four hours of storage.