Why are Li-ion batteries a promising clean technology?

Li-ion batteries have been a promising clean technology because the battery stores energy in its cells, as opposed to generating energy by combusting fossil fuels in a gasoline and diesel engine, to power a vehicle or provide electricity to a building (see box 1 for the capability of Li-ion batteries).

What is a lithium ion battery?

The Li-ion battery is classified as a lithium battery variant that employs an electrode material consisting of an intercalated lithium compound. The authors Bruce et al. (2014) investigated the energy storage capabilities of Li-ion batteries using both aqueous and non-aqueous electrolytes, as well as lithium-Sulfur (Li S) batteries.

Who is supplying Li-ion batteries to Europe?

The European Investment Bank has recently offered a loan of about $350 million to a Swedish battery developer and manufacturer—in addition to finances from major European automobile makers—to supply Li-ion batteries to the European makers as well as to establish the closed-loop system (European Investment Bank, 2020).

Can Li-ion batteries be repurposed?

Li-ion batteries that are no longer useful in their first application can still be used in other less demanding applications. For example, batteries used in electric vehicles become unusable after about 100,000 miles of driving, but can be re-used as back-up power to energy storage systems or telecom systems.

Can Li-ion batteries be used to generate electricity?

In electricity generation, inexpensive Li-ion batteries are enabling grids to install more renewable energy capacity using solar and wind sources.2 One of the well-known shortcomings of solar and wind-power energy sources is their large variability in power generation. The sun does not always shine, and the wind does not always blow.

Are Li-ion batteries good for EVs?

Li-ion batteries are noted for their excellent energy density, efficiency, lifespan, and high-temperature performance. It's still good for battery-powered EVs . The battery's biggest benefit is component recycling. Major drawbacks are the high cost per kWh (135 USD/kWh) and the material's unavailability.