BOSTON, April 23,
2024 /PRNewswire/ -- Energy is a universally familiar
concept, but how it is stored may not be. Battery
innovation underpins many sectors, including electric
vehicles, sustainability, and renewable energy. In a recent episode
of their technology podcast 'Tomorrow's Tech with IDTechEx',
IDTechEx energy experts discussed the various uses for batteries,
with Research Director Alex Holland
explaining how the market is set for greater success in the near
future, with innovation in battery technology set to play a key
role in this success.
Electric Vehicles
Electric vehicle cost, range, charging times, and
performance more generally, are all factors heavily affected by the
battery inside the car. Electric vehicles have been up and coming
since the 2010s, but it's battery technology that largely made this
possible. While regulatory pressure and climate change acted as
drivers for the market, with combustion engines being huge
contributors to global warming and greenhouse gases, newly
developed batteries have unlocked the potential for EVs to succeed.
As batteries have developed to become more energy-dense with faster
charging while being safer and cheaper to manufacture, they have
become the perfect fit for the high demand of electric
vehicles.
Battery Advancements
Cell designs and materials used in battery manufacturing are
consistently evolving within the sector. Silicon anode materials
replacing graphite within batteries is a successful innovation that
can improve vehicle range and fast charging capabilities. This is
due to the fact that silicon has a much higher capacity to store
lithium compared to graphite. A small amount of silicon is already
added to graphite in some batteries and the next generation of
silicon materials and cell designs are currently being developed to
enable a higher percentage to be used in the anode. Companies are
advertising longer run times and faster charging as key benefits,
benefitting not only electric vehicles but also household devices,
power tools, and electronic devices.
Solid-state batteries are on the horizon to replace liquid
electrolytes, removing the highly flammable liquid material
commonly used in the industry, making batteries a lot safer. Longer
run times and longer ranges for electric vehicles can also be
achieved with solid electrolytes, as they can also allow the use of
more energy-dense materials such as lithium metal, which replace
the typically used graphite. For more in-depth analysis, see
IDTechEx's report "Solid-State and Polymer Batteries 2023-2033:
Technology, Forecasts, Players".
Challenges with solid-state batteries remain, such as maintaining
contact between cell components and low manufacturing costs, but
with the increased safety and potential for improved energy
density, many automotive manufacturers consider it a key technology
of the future.
As smartphones increase in capacity with the incorporation of AI
and better data connectivity, battery energy density will become
even more important. Where a smartphone's full charge could
currently last one day, in the future, companies could be looking
at doubling that capacity with the use of new silicon or lithium
metal materials, although commercial deployment will take time.
Renewable Energy
Pumped-hydro-energy storage has been a reliable source of
renewable power and energy storage capacity for electricity grids
for a long time, but a relative scarcity of suitable geographical
sites has opened a window for batteries and other alternative
energy storage technologies. Li-ion batteries are being used as an
alternative to pumped-hydro and can be charged up from solar or
wind power, storing energy at times of high electricity demand or
excess production to limit curtailment.
When the wind doesn't blow, and the sun doesn't shine, batteries
provide a more reliable source of energy to make up for the
intermittency of nature. In the case of a natural disaster and for
improved grid capabilities for self-sufficient energy, batteries
will play a huge role. IDTechEx predicts the stationary energy
storage market to grow at a faster rate than the electric vehicle
sector due to its critical role in electricity grid and energy
decarbonization, as well as its growth from a much lower base.
There is lots of space for innovation within this sector of
alternative battery chemistries and energy storage technologies
which includes various flow battery chemistries, zinc-air or
iron-air batteries, or compressed-air energy storage systems,
amongst various other technologies. The benefit of these systems
often stems from their ability to scale energy storage capacity
more easily than in Li-ion batteries. For example, where Li-ion
batteries are contained within a single cell, redox flow batteries
can keep the power generation and energy storage components
separate as storage capacity is contained within the electrolyte,
which is then flowed through an electrochemical cell to generate
power. This allows energy capacity to be increased simply by
increasing the size of the storage tanks and the electrolyte
contained within them, offering the possibility of lower cost
energy storage capacity.
Sustainability
Transparency within the supply chain is imperative within the
battery industry so customers can make sure energy is being stored
as cleanly as possible and with minimized waste. Mining of
materials, including cobalt, lithium, nickel, and graphite, is
known to come with social and environmental issues, but with the
battery industry being aware of this issue, efforts are being made
to make improvements.
Batteries supplied to the European Union will start to require
greater due diligence of supply chains, including information on
carbon footprints, with the potential of a penalty upon failing to
meet this standard. For grid-scale batteries, alternative
technologies can play an important role in diversifying supply
chains and utilizing more abundant materials. Large-scale batteries
and grid batteries are key factors in environmental efforts to
reduce CO2 emissions.
Innovation is a great buzzword within the battery industry, with
many future possibilities for new designs and deviations from
current materials for use in electric vehicles, consumer
electronics, power tools, and electricity grid markets.
Dr Holland states that there is an understanding that the
industry should move forward with some caution, as the bar for
safety and development is high, but that companies are always on
the lookout for new ideas. The future of battery technology is set
to be one of success and diversification, with companies offering
varying solutions for higher-performing, more sustainable, and
lower-cost batteries. For more information, visit IDTechEx's latest
report, "Advanced Li-ion Battery Technologies 2024-2034:
Technologies, Players, Forecasts", or for the full portfolio of
battery and energy storage-related research, see
www.IDTechEx.com/Research/ES.
New episodes of 'Tomorrow's Tech by IDTechEx' are released
monthly, with host Dr Tess Skyrme
interviewing an array of industry experts from IDTechEx, offering
listeners accessible insights into a range of technology
innovations. See more at www.IDTechEx.com/Podcast.
About IDTechEx
IDTechEx provides trusted independent research on emerging
technologies and their markets. Since 1999, we have been
helping our clients to understand new technologies, their supply
chains, market requirements, opportunities and forecasts. For more
information, contact research@IDTechEx.com or
visit www.IDTechEx.com.
Media Contact:
Lucy Rogers
Marketing and Sales Administrator
press@IDTechEx.com
+44(0)1223 812300
Social Media Links:
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SOURCE IDTechEx