EV batteries could be used for energy storage, report finds
News
31 Mar 2016
According to a report by analysts Navigant Research, electric vehicle batteries (EV) could be reused for energy storage.
The study, Alternative Revenue Models for Advanced Batteries, examines market drivers and challenges related to second-life batteries and recommended ways for stakeholders to help the concept become a reality.
The research calculated that the annual capacity of lithium ion batteries in their second life is expected to reach 11GW by 2035. It found that many traction batteries are showing less degradation and better performance than initially predicted.
Navigant Research claimed that reusing EV batteries for energy storage applications could solve the problem of new batteries being too expensive in the mid-term. It suggests that use but operational batteries could be sold at a lower price to provide useful functions elsewhere.
William Tokash, senior research analyst with Navigant Research, said: “The potential reuse of these batteries is of keen interest to both stationary ESS [energy storage systems] developers looking to reduce costs and automotive original equipment manufacturers, interested in new revenue models that capitalise on the residual asset value.”
