Lithium is needed for energy storage

Why do we need more lithium ion batteries?

An increased supply of lithium will be needed to meet future expected demand growth for lithium-ion batteries for transportation and energy storage.

Why are lithium-ion batteries important?

They are also needed to help power the world’s electric grids, because renewable sources, such as solar and wind energy, still cannot provide energy 24 hours a day. The market for lithium-ion batteries is projected by the industry to grow from US$30 billion in 2017 to $100 billion in 2025.

Are lithium-ion batteries energy efficient?

Among several battery technologies, lithium-ion batteries (LIBs) exhibit high energy efficiency, long cycle life, and relatively high energy density. In this perspective, the properties of LIBs, including their operation mechanism, battery design and construction, and advantages and disadvantages, have been analyzed in detail.

Are lithium-ion batteries available long-term?

This study investigates the long-term availability of lithium (Li) in the event of significant demand growth of rechargeable lithium-ion batteries for supplying the power and transport sectors with very-high shares of renewable energy.

How can lithium be extracted more sustainably?

There are ways to extract lithium more sustainably: in Germany and the United Kingdom, for example, pilot projects are filtering lithium from hot brines beneath granite rock. Cobalt is an important part of a battery’s electrode, but around 70% of this element is found in just one country: the Democratic Republic of the Congo (DRC).

Should lithium be used in stationary applications?

However, the use of LIBs in stationary applications is costly because of the potential resource limitations of lithium. Therefore, substantial cost reductions are required to enable ongoing accelerated market growth, particularly for its use in the power grid.