Lithium battery future energy storage market -Lithium - Ion Battery Equipment

Lithium battery technology will occupy the future energy storage market -Lithium - Ion Battery Equipment

Clean-energy visionaries have long argued that a better battery could reassure skeptical consumers about electric vehicle sales and make the grid better use renewable energy. However, for at least the next decade, future batteries will also be based on legacy technology.

While lithium batteries already have an overwhelming lead in the battery market, rival technologies may struggle to catch up. That lead will widen as planned new lithium battery production plants come online within the next five years.

Mass-produced batteries from newly built battery factories in my country, the United States, Thailand and other countries will further drive down prices. Since 2010, lithium battery prices have plummeted by 85%. And billions of dollars invested in building and operating battery production plants will continue to improve lithium-ion battery technology, rather than using other battery technologies to provide powerful power.

Many startups are now focusing on technological upgrades for lithium batteries. "We don't think the development of lithium batteries will be disrupted," said Erik Terjesen, senior director of licensing and strategy at IonicMaterials. Headquartered in Massachusetts, Terjesen is one of several companies working to develop and refine solid-state battery technology.(Lithium - Ion Battery Equipment)

But IonicMaterials is not designed to replace lithium batteries, but to improve. Instead, the company designed a polymer electrolyte that could be used within existing lithium batteries. This means that battery manufacturers can use it without adding new equipment. "Given all the investment in lithium-ion, we don't believe people give up on this battery technology and start over," Terjesen said.

The world's first lithium battery was invented by a researcher at ExxonMobil in the 1970s and commercialized by Sony in 1991, and has been used for decades. Lithium batteries work by transporting charged lithium atoms, or ions, through a liquid electrolyte that flows between the positive and negative electrodes. And use different materials in cathode cobalt, nickel and manganese to add energy storage capacity. Products that first appeared in consumer electronics, such as mobile phones, can now be found in electric vehicles and in the power grid.

"Lithium batteries are widely used, so when they become cheaper, more areas of demand open up," said Logan Goldie-Scot, head of energy storage research at Bloomberg New Energy Finance. According to the company's survey data, the price of lithium battery packs It averaged $1,160 per kWh in 2010, dropped to $176 per kWh in 2018, and could drop below $100 in 2024. Continued declines in lithium battery prices and improved performance could open up new markets.

Some people don't believe that lithium batteries can do it all. Some automakers hope to develop a breakthrough technology that could enable long-range electric vehicles to travel 500 miles on a charge, which will eventually convince sceptical consumers that EVs won't run out of power on the road. Toyota Motor Corporation, for example, has more patents and patent applications on solid-state batteries than any other company, and has invested $13.9 billion to develop its battery business.

More storage of renewable energy requires better battery technology. While manufacturers like TSLA and Dynegy have begun to connect lithium-ion battery storage systems to the grid, these systems typically only supply power for up to four hours. Former U.S. Energy Secretary Ernest Moni said in an interview with industry media in February this year that short-term energy storage systems will not help integrate large amounts of renewable energy. "These energy storage systems can't last a day, a week, a month, a quarter, and that's why different battery technologies are being developed," said Moniz, who recently co-authored a report calling for more battery improvements. significant investment in research.

From flywheel energy storage technology to flow battery technology, many battery alternatives have failed to achieve greater success, and lithium batteries are increasingly used. A flow battery developed by California-based PrimusPower can produce 25kW of power for five hours. Improvements to the current design could boost the power supply time to seven to eight hours, said Tom Stepien, the company's chief executive. When more power is required, flow batteries can be achieved by using more liquid electrolyte.

"Let's say lithium batteries are sprinters, and flow batteries are marathon runners," Stepien said in a metaphor. But Stepien admits it's hard to convince potential customers to adopt less familiar battery technology. So far, PrimusPower has deployed 30 flow battery energy storage systems, mainly in the past three years. "Lithium batteries are easier to deploy, and every user does," Stepien said.



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