Thursday 6 June, 2024
Sodium-Ion Batteries Poised to Shake Up Energy Storage Market, New Reports Reveal
In recent years, there has been much speculation surrounding the future of lithium-ion batteries in the energy storage industry. However, new reports suggest that sodium-ion batteries may present a more promising alternative.
According to these reports, simplistic calculations that claim lithium carbonate’s cheap prices make it unbeatable in the energy storage market are simply untrue. In reality, different manufacturers are optimizing various features to cater to different markets, including cost, performance, and safety.
One of the main advantages of sodium-ion batteries is their potential for lower costs when compared to lithium-ion. This is due in part to the low-cost raw materials used and the fact that sodium-ion technology is still in its early stages, allowing for potential cost reductions in the future.
But the benefits of sodium-ion batteries go beyond just cost. These batteries can be fully discharged, have faster charging rates, and offer higher watts per watt-hour than lithium-ion. They also have the potential for higher energy density at a given high power density, as well as improved low temperature performance. At the system level, sodium-ion batteries also offer improvements in safety, deployment, energy density, and cost over what is reported at the cell level.
Additionally, sodium-ion batteries may require less cooling, battery management, and fire-prevention infrastructure, making them a safer and more cost-effective option. They can also be safely stacked, reducing the large footprint required for lithium-ion stationary storage. These advantages can often offset any energy density deficits at the cell level.
Natron, one of the leading proponents of sodium-ion technology, is currently optimizing its batteries for a range of applications, including vehicle chargers, short-term grid and beyond-grid storage, and counterweighted industrial electric vehicles. Other companies are focusing on different parameters, such as energy density for electric cars.
Contrary to popular belief, no one will solely purchase sodium-ion batteries based on cost alone. In fact, industry experts warn that relying solely on cost advantages is cause for concern.
The rise of sodium-ion batteries is expected to have a significant impact on the lithium-ion battery market, with lithium-ion sales projected to peak no later than 2037 and then drop steeply. Base metal-ion batteries, with sodium-ion in the lead, are expected to take a $40 billion bite out of lithium-ion’s market share. This is due to a mix-and-match of approximately 20 advantages that may apply, based on current research.
In addition to competition from sodium-ion batteries, lithium-ion will also be impacted by the peak of electric car sales, its commoditization, and the growing demand for stationary storage, particularly for Long Duration Energy Storage (LDES). The LDES market is expected to primarily consist of grids with 50-100% wind and solar, requiring massive storage capacities of up to 10GWh. In these cases, battery-free solutions such as liquid or solid gravity storage and underground compressed air may prove to be more effective. There may also be a market for smaller LDES sizes serving beyond-grid locations, such as 100MW data centers and desalinators, where footprint is a key consideration. While ion-batteries may struggle to compete in these areas, they may still find a place in grids and beyond-grid locations with less wind and solar contribution. For example, they may be suitable for solar houses where space for LDES is limited.
As the rise of sodium-ion batteries looms, researchers are already looking ahead to the next big thing. Many are betting on zinc-ion technology, which offers similar benefits to sodium-ion. However, there are still some challenges to overcome, including self-leakage and the economy of size needed for mainstream LDES.
While the image above is just a possible scenario, it’s clear that the rise of sodium-ion batteries is something that should be taken into consideration when looking at the bigger picture of the energy storage market. For more analysis on this topic, visit www.zharresearch.com and www.giiresearch.com.
Distributed by https://pressat.co.uk/
