SOLID STATE BATTERIES
- Recent years have seen a surge in demand for sustainable transportation driven by environmental awareness, with electric vehicles (EVs) leading the way in reshaping the automotive industry.
- Battery technology, particularly Lithium-ion batteries, has significantly improved, enabling longer driving ranges and faster charging times for EVs. However, challenges linked with energy density, safety, and cost persist.
- Solid-state batteries hold promise in addressing these challenges and revolutionizing the EV landscape.
In recent years, the demand for sustainable transportation has surged, driven by awareness of fossil fuels' environmental impact. Electric Vehicles (EVs) are reshaping the global automotive industry and pushing towards a greener future. Batteries are crucial for electric vehicles, their performance, and the safety of the driver. Currently, lithium-ion batteries are dominating the global electric vehicles market, but it is expected that solid-state batteries will revolutionize the EV landscape due to their superior characteristics, including improved lifespan, energy density, and safety.
Recent years have seen a surge in demand for sustainable transportation driven by environmental awareness, with electric vehicles (EVs) leading the way in reshaping the automotive industry.
Figure 1: Global BEVs Annual Additions
Source: PTR Inc.
Overview of the EV Global Growth Landscape
The worldwide rise in EV adoption can be attributed to government-driven clean energy goals. Governments globally promote EV adoption with incentives, subsidies, and green policies to cut emissions, boost energy security, and generate eco-friendly employment opportunities. Substantial investment by automotive OEMs in EV R&D and diverse electric models have also sped up consumer adoption, making EVs more accessible. The global EV market forecast reflects the anticipated significant expansion in the industry.
Existing Battery Technologies
One of the primary catalysts behind the growth of the EV market is the rapid progression in battery technology. Lithium-ion batteries, which power most EVs, have seen significant enhancements in energy density, charging speed, and overall performance. This has led to extended driving ranges and reduced charging times, addressing key concerns that previously hindered EV adoption. Furthermore, ongoing research and development into next-generation batteries like solid-state and lithium-sulfur batteries hold the potential for even greater energy densities, further boosting the EV market's expansion.
The distinctions among currently used batteries stem from differences in safety, lifespan, and energy density. Battery chemistry plays a pivotal role in determining the performance, safety, and cost of various battery types utilized in EVs. Within the realm of widely used lithium-ion batteries, some common types include lithium cobalt oxide (LCO), lithium iron phosphate (LFP), and lithium nickel cobalt manganese oxide (NCM/NMC), each offering specific trade-offs in terms of energy density, safety, and cost.
LFP batteries are renowned for their intrinsic safety and thermal stability, making them a favored choice for certain EV applications. Conversely, NCM/NMC batteries strike a balance between energy density and cost, making them a widely adopted option by many automakers for their electric vehicles. LCO batteries, while offering high energy density, are more frequently employed in smaller EVs, such as electric scooters and e-bikes, due to their lower cost.
Challenges Associated with Existing Battery Technologies
- Current lithium-ion batteries suffer from limitations in energy density, which can constrain the driving range of electric vehicles, presenting a challenge to EV manufacturers striving to meet consumer expectations for extended range capabilities.
- Lithium-ion batteries are vulnerable to thermal runaway, a situation in which overheating can result in rapid and uncontrollable battery failure, raising safety concerns and necessitating the implementation of robust thermal management systems in EVs.
- The persistently high cost of lithium-ion batteries continues to be a major impediment to widespread EV adoption. While prices have decreased over time, affordability remains a pivotal factor in expanding the electric vehicle market.
- The substantial weight of lithium-ion batteries can have a significant impact on the overall weight and handling characteristics of electric vehicles.
Solid State Batteries: The Promising Solution to EV Batteries
Solid-state batteries signify a groundbreaking advancement in battery technology. In contrast to conventional lithium-ion batteries that use liquid electrolytes to facilitate ion movement between the cathode and anode, solid-state batteries employ solid-state electrolytes, eliminating the need for flammable and volatile components. This critical design change enhances safety by reducing the risk of thermal runaway and fire hazards while also enabling higher energy density, longer cycle life, and faster charging.
Figure 2: Scoring of Different Battery Chemistries
Source: PTR Inc.
The potential benefits of solid-state batteries aim to address critical challenges associated with traditional lithium-ion batteries. Enhanced safety instills greater consumer confidence, addressing a primary concern hindering widespread EV adoption. Additionally, solid-state electrolytes allow for the use of lithium metal anodes, which offer higher energy density compared to the graphite anodes typically used in lithium-ion batteries. This translates to increased electric vehicle driving range, alleviating range anxiety and making them more suitable for long-distance travel. The improved energy density also allows for reduced battery weight, addressing a current issue with existing batteries.
The potential benefits of solid-state batteries aim to address critical challenges associated with traditional lithium-ion batteries. Enhanced safety instills greater consumer confidence, addressing a primary concern hindering widespread EV adoption.
Figure 3: Global Pricing Average USD/kWh.
Source: PTR Inc.
The accompanying graphic illustrates the anticipated decline in the average price per kWh for solid-state batteries in comparison to existing technologies. Ongoing research and development by major industry players suggest that this price could potentially drop significantly lower as the product is mass-produced and the supply chain and material sourcing are optimized for solid-state batteries. Battery costs constitute a significant portion of the overall cost for consumer-market EVs. With higher energy density and improved cost efficiency, solid-state batteries have the potential to become the dominant battery technology for EVs, resulting in lower prices for consumers.
Players Working on Solid-State Batteries
The emergence of solid-state batteries has attracted significant attention from prominent stakeholders in the automotive, technology, and energy industries. Leading car manufacturers like Toyota, BMW, and Volkswagen are actively dedicating resources to research and develop solid-state battery technology for use in electric vehicles. The attached graphic provides a timeline illustrating ongoing and forthcoming collaborations and advancements within the solid-state battery sector.
Inhibitors
Nonetheless, the commercialization of solid-state batteries encounters hurdles associated with production expenses and enduring reliability. An issue within solid-state technology is the formation of dendritic growth on lithium anodes, a phenomenon occurring during rapid charging that can result in battery failure, diminishing battery health, and its overall number of charge cycles. Since this technology is still in the developmental phase, ongoing research and testing are being conducted to address and mitigate this drawback. Once successfully managed, electric vehicles equipped with solid-state batteries could achieve a significant charge in a considerably short timeframe, greatly reducing charging durations and enhancing user convenience.
Solid-State Batteries Beyond EVs
Beyond their use in electric vehicles, solid-state batteries find applications in various other domains, including stationary energy storage. The unique attributes of solid-state battery technology render them well-suited for energy storage applications requiring heightened energy density and enhanced safety compared to conventional battery technologies.
In the realm of stationary energy storage, solid-state batteries prove invaluable for storing surplus renewable energy generated by sources like solar or wind power, especially in space-restricted projects. These batteries accumulate energy during periods of low demand and discharge it during peak demand, thereby enhancing grid stability and reducing dependence on fossil fuels. Moreover, solid-state batteries can elevate the performance and efficiency of off-grid systems, such as remote power stations or telecommunications infrastructure. Their capacity to provide a dependable and long-lasting power source makes them invaluable in scenarios where grid access is limited, or supply is intermittent. As solid-state battery technology advances and becomes more prevalent, we can anticipate further developments and innovative applications that offer more dependable, sustainable, and efficient energy solutions.
Looking Ahead
The automotive sector, battery manufacturers, and research institutions have all discerned the profound potential inherent in solid-state batteries. They are currently engaged in collaborative endeavors aimed at surmounting the challenges that this technology confronts in terms of expanding production and seamlessly integrating solid-state batteries into the mass production of electric vehicles. This concerted effort is expected to lead to reduced electric vehicle costs and enhanced reliability, thereby facilitating the widespread adoption of electric vehicles.
As the world progressively embraces a sustainable, emissions-free future, solid-state batteries are positioned to play an indispensable role in reshaping the landscape of electric transportation and stationary energy storage.
Furthermore, the application of solid-state batteries in stationary energy storage is poised to benefit from these advancements. As the world progressively embraces a sustainable, emissions-free future, solid-state batteries are positioned to play an indispensable role in reshaping the landscape of electric transportation and stationary energy storage. It will also contribute significantly to the energy industry's progression towards a cleaner and more environmentally friendly energy ecosystem.
Abdullah Bin Kamran is a Market Analyst at PTR Inc. He focuses on the topic of energy storage and battery energy storage systems. He specializes in research on the global energy storage market, covering areas such as market sizing of different markets, policy landscapes, market developments, pipelines of projects, installations of these projects, and the development of new battery technologies. He also covers the battery value chain and tracks the supply chain advancements in the industry, such as the installation of raw material plants and battery gigafactories. His work involves in-depth analysis of the aforementioned topics and the creation of various reports on related topics. He has worked on a bunch of custom projects related to his area of expertise, enhancing his research skills and knowledge of the topic. He holds a BS in Electrical Engineering from LUMS, which gives him the required technical knowledge on his topic.