Revolutionizing The Energy Storage Units- Increasing Demand Of Lithium Batteries

Revolutionizing The Energy Storage Units- Increasing Demand Of Lithium Batteries

We live in a world full of technology where everything, either a mobile phone to cars, is running with the help of energy stored using some batteries. Every time you see a battery, you notice a word LI-ion mentioned on it. These are the lithium-ion batteries that are running the industry of storage batteries.

According to the census, it is curated that there is a surge in demand for lithium batteries due to increased consumption in automobile and technology products. This surge in demand has lead to a decline in the price of lithium batteries by 85%. This revolution in this industry is considered as new energy with lithium batteries.

Difference Occurred In The Past Decade

In 2010, lithium batteries were only powering our phones and laptops, but gradually this trend changed. We have started to see lithium batteries in our household storage batteries. By the end of the decade, these batteries may become the basis of electric cars.
The viability of the electric vehicles is possible only due to these lithium-ion batteries. They have elevated the performance of electric cars and decrease cars' cost, which leads to people shifting to electric vehicles. It is the new energy with lithium batteries, which is beneficial for both the human pocket and the environment.
After noticing such a broad level of environmental benefits of a lithium battery and how it is relacing the renewable fuel world, it is decided that lithium batteries will be built for solar and wind power generation. This will lead to two consequences, i.e.:-

  • The decrease in dependency on non-renewable resources.
  • Cost-cutting in the conventional energy storage field as it provides a large space for storage at less price.

Development Of Lithium Batteries: An Emerging Battery Storage Star

The technology of batteries was introduced around two centuries ago, and we tend to use various varieties of batteries, i.e., - lead-acid, nickel-metal hydrate, etc. Then in the later 20th century, around the 1970s the lithium batteries were introduced. It takes a little time to popularize, and in 1991 Sony commercialized the lithium batteries in their cam-coders. After that, the lithium batteries were introduced in the mobile phones which are used till date. With time the development has progressed quickly, and many more discoveries are expected in the field.

The use of lithium batteries in different devices is as shown below:-

  • Phones – 10-20 grams
  • Laptops- 100-120 grams
  • Hybrids- 1-4 kg
  • Plug-in Hybrids- 20 kg
  • Electrical Vehicles- upto 100 kgs

Lithium Powered Electric Vehicles

In the year 2008, the world has seen its first-ever electric driven car. Back then, the people have leaned towards the fuel-based cars due to electric cars' cost. Later, when lithium batteries were introduced in the automobile sector, electric vehicles' prices declined. This decline in the price and growing instinct towards the environment popularizes the market of electric cars.
Then major automobile brands enter the race of making and selling their electric vehicles. It is expected from the automobiles brand that they will release around 50-70 models of the electric car each by the end of the next decade. It all became possible due to the new energy with lithium batteries.

The Final Verdict

The comparison between the pricing and the demand shows some real exciting figures for the lithium batteries. In 2010 the demand was significantly less, only limited to electronic devices, and prices were high, and by the end of 2020, the values are expected to reverse. The demand will grow tremendously, and the price will decrease accordingly. So, it can be wholely considered that yes, lithium batteries have changed the world of storage batteries.

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