The EV battery landscape is changing dramatically with solid-state batteries emerging as a possible game changer.
As for any novel technology, the cost to develop, manufacture and integrate remains one of the deciding factors in the mass adoption and acceptance of these technologies. To better understand the severity of the cost component, let us look at the cost comparison between Solid state and Li-Ion batteries.
In a broad sense, the use of lithium-ion batteries that started the EV revolution has been the industry standard in the EV sector. Li-Ion batteries are used for anything from powering electric vehicles to storing energy for the grid.
Li-Ion Batteries: What Made Them The Most Desired?
Their desirability arises from their high energy density, extended life cycle, and consistently reduced cost of manufacturing. Lithium-ion battery prices have declined dramatically over the last decade as manufacturing technologies became more efficient and cost-effective.
This low cost made Li-Ion batteries more accessible for a variety of applications.
However, lithium-ion batteries can have certain downsides. They contain liquid electrolytes, which can pose safety issues including leaks and fires. Furthermore, lithium mining and processing are coupled with substantial environmental risks.
These difficulties encouraged the hunt for safer and more sustainable alternatives, which resulted in the development of solid-state batteries.
But what about solid-state batteries? Are they not prone to any safety hazards?
Let us delve into solid-state batteries.
Solid-state Batteries: Why & Why Not
The question to be asked is, why are companies and industry experts obsessed with solid state batteries? The answer is pretty simple. In comparison to lithium-ion batteries, solid-state batteries provide various benefits.
Those are,
- Solid state batteries employ a solid electrolyte thus safer
- They provide increased energy density
- Solid-state batteries offer improved safety.
- Less charging time required
- They have longer lifespans as well.
Now moving on to the why not part.
The above-mentioned advantages come at a cost. The main one is that mass production of solid-state batteries is currently more expensive than lithium-ion battery production, owing to the high cost of materials and the complexity of the manufacturing process.
The high cost of solid-state batteries is mostly owing to the usage of costly materials such as lithium metal, which is used as an anode in some designs.
Furthermore, the manufacturing process of solid-state batteries is more sophisticated, necessitating more close control over the material handling and assembly process. This intricacy raises production costs and makes scaling up the manufacturing process more difficult.
Recycling solid-state batteries is also a barrier to their widespread adoption. Current lithium-ion battery recycling procedures are generally effective for minerals such as nickel and cobalt but struggle with graphite and lithium.
The lack of a well-established closed-loop recycling mechanism for these specific elements complicates and strains the supply chain system for solid-state batteries.
Addressing these recycling issues is critical to ensuring the long-term manufacture and usage of solid-state batteries.
Achieving Cost Parity With Li-ion Batteries
We can confidently ascertain that the cost of solid-state batteries is likely to fall with time.
When the Li-Ion batteries were first introduced, the price was also higher.But as time progressed and new manufacturing technologies evolved the price became more reasonable and affordable. The same will happen in the case of Li-Ion batteries.
Several companies are investing heavily in research and development to increase the performance and lower the cost of solid-state batteries. Some experts believe that solid-state batteries will be cheaper than lithium-ion batteries within the next decade.
If this prognosis is correct, solid-state batteries might become a viable option for a variety of applications, ranging from electric vehicles to grid energy storage.
Conclusion
As we have mentioned earlier, the cost component of any new technology is very important in its mass adoption. This is true in the case of solid-state batteries as well. While solid-state batteries are currently more expensive than lithium-ion batteries, their prospective advantages in terms of safety, energy density, and longevity may make them the most suitable candidates in the long run.
The cost of solid-state batteries is predicted to fall as technology improves and manufacturing techniques become more efficient and might replace the Li-Ion batteries.
The good thing about this is that switching to a solid-state battery from Li-Ion will require no or very few changes to be made in your EV.
