As battery prices have been costly. Zenaji continues to assess the latest in battery technology from around the world. Yet have not found a better technology to replace LTO (Lithium Titanate). As the best solution available for long term stationary storage.
This is because of LTO’s many benefits including energy density, safety, longevity, cycle life, temperature tolerance, efficiency and lifetime cost.
There are many wild claims in the media that the cost of batteries will lower in the years to come. However, when examined closely, these claims do not stand up and the laws of supply and demand continue to prevail.
Battery factories round the globe are growing at record pace driven by the demand for mobile devices. In particular a move away from carbon-driven cars to electric powered vehicles. The market is somewhat volatile but demand is continuing to outstrip supply and battery prices ultimately reflect this.
Every major manufacturer of cars worldwide is moving to an electric vehicle range. In the belief that this will reduce the carbon footprint of each car. This will put increasing pressure on prices and is the single greatest demand side influence.
Why the high prices?
Rare earth metals are just that, rare and in great demand in the manufacturing of many batteries. The base costs of metal is rising and with increasing demand comes the inevitable price increases. No-one is immune, and indeed Tesla who has made wild claims as to the costs of batteries. In the past has in fact increased its price of cells over the last few years. And looks increasingly likely to do so in the future.
Thermal runaway issues dog the company and its products and there is no obvious answer. This is along with increased government scrutiny of the company. Hence its products like these are taken to court for a failure to meet performance minimums.
India is building Lithium Ion battery manufacturing at a remarkable rates. As they are likely able produce 30% of the world’s lithium batteries in the next decade. One report (PRAXIS 2021). Predicts battery prices are likely to drop 6% per annum till 2030 to below $100 US per kWh.
However, given the cost of batteries today is close to material cost exactly. Why this is a likely scenario appears based on a series of assumptions rather than anything else.
Below is an overview of two of the potential technologies emerging in the battery world which show promise. Typically batteries with these technologies are not yet commercially available at this point. As they still have issues that need fixing. before they are able to be commercially available.
1.Iron Air batteries
“The battery works through a chemical process of “reversible rusting.” When discharging. The battery takes in oxygen that reacts with iron to create rust. When charging, an electrical current converts that rust back into iron and the battery releases oxygen
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This appears to be a low-cost solution but probably less commercial than first glance suggests. The primary reason is this process is inefficient and losses of energy will be high. Meaning that for each kW of energy earned only a fraction of that energy will become available to the user. Safety issues, however, are a major concern as these batteries can overheat, cause fire, or explode if damaged. Temperature tolerance is also likely to be an issue as will its cycle life.
Not commercially available in large quantities but nonetheless interesting for some applications.
2: Lithium Air Batteries
These batteries are currently being developed in laboratories. These are a new development that could allow for much greater energy storage capacity than a typical Lithium battery. These batteries would literally “breathe” air by using free oxygen to oxidize the anode.
The technology has been described as “promising” but like practically all new technologies. There are a number of technological issues yet to be resolved. One of these is the quick build-up of performance. Including a quick build-up of performance-decreasing by-products. Resulting problem of “sudden death” where the battery ceases to work without warning.
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