Novel Battery Technologies are Aiming to Reduce the Cost of Battery, and Create New Opportunities for Energy and Automotive Sectors
The widespread deployment of batteries in power systems and transportation applications is expected to face challenges related to the raw material supply chain and the environmental impact of the materials. Current energy storage systems are expensive and difficult to scale, mainly due to the cost and performance of the battery chemistry. The cutting-edge innovations in battery storage technology have potential to address the present and future challenges of the energy storage sector with the production of high-performance, cost-efficient batteries.
The novel battery chemistries are being developed in order to address the present limitations of Li-ion batteries, such as high cost, raw materials supply shortage, and safety issues. This research service, ‘Disruptive Battery Storage Technologies,’ focuses on the emerging innovations and the latest achievements in the development of batteries beyond Li-ion chemistry.
The findings depicted in this study will help to drive the economic growth and technology revolution of the battery industry. The study exhibits the major challenges faced by technology innovators in developing an affordable and high-performance battery chemistry and design, while gaining market acceptance by transforming technology innovation to market competitiveness.
The study presents a snapshot of emerging battery storage technologies, their advantages and limitations, possible application and impact on battery market. The discussed battery storage technologies with different chemistries are optimized for different applications and market fit, and are aiming to reduce the cost of energy storage. Special attention is given to the factors determining the commercialization potential of emerging battery storage technologies. Successful case studies of successful technology development and implementation are included in report. Additionally, it presents the performance analysis and comparison of different battery storage technologies, adoption scenario, and applications in the future.
The growth opportunities of Disruptive Battery Storage:
- The main factor that drives researchers to look well-beyond current Li-ion technology is a high battery cost. Novel battery technologies are aiming to reduce the cost of battery, and create new opportunities for energy and automotive sectors. The cost of disruptive battery energy storage of beyond Li-ion chemistry must be competitive with conventional energy storage to be commercially viable.
- Based on the wide availability and low cost of sodium, sodium-ion batteries are considered as a substitute for Li-ion batteries for grid-scale energy storages. It is expected that the sodium-ion battery will first of all gain market acceptance and become the first commercially available battery beyond Li-ion chemistry.
- Battery beyond Li-ion chemistry is at an early stage of development and commercialization, and could potentially disrupt the market in the coming 5-10 years.
The study deeply illustrates the following:
- Disruptive battery storage technologies - overview and current trends
- Factors driving adoption and development of battery storage
- Key properties, drawbacks, major innovations, and research and development (R&D) activities
- Snapshot of disruptive battery storage technologies, applications, and future prospects
- Technology benchmarking for smart decisions