Although the price may be getting lower, I was lucky enough to hear a presentation from the head of Automotive Engineering at the University of Windsor. The professor conveyed that there are many other issues for power storage such as a limited amounts of cobalt and difficulty in retrieving it.

I inquired about what is likely to happen as cobalt is a relatively scarce resource if we are looking to use it for powering our world. He said he is sure that they [researchers] will find some substitute, but right now there is none.

As the scarcity of other elements in power storage increase, it may drive up the prices, even if the lithium itself can be sourced.