Since Lithium-ion batteries are the first choice of portable electrochemical energy storage, improving their cost and performance can expand their benefits. It also enables new technologies which depend on energy storage. A great volume of research in Lithium-ion batteries has thus far been in electrode materials. Electrodes with higher rate capability, higher charge capacity, and (for cathodes) sufficiently high voltage can improve the energy and power densities of Lithium-ion batteries. It will lead us to battery production with smaller and cheaper. However, it possibly happens when the material itself is not too rare or expensive.
Furthermore, the amount of Lithium available on the Earth's crust is sufficient to power a global fleet of automobiles. Rising prices can be problematic for Lithium-ion batteries. Because, the cost is a major factor inhibiting its expansion into renewable energy applications. Even so, Lithium is not a major factor in the cost of Lithium-ion batteries at the day. Lithium is used in the cathode and electrolyte which covering only a small portion of the overall cost. Within these components, the cost of processing and cobalt in the cathodes are the major contributing factors. Despite all of the challenges, Lithium-ion battery will continue to dominate portable electrochemical energy storage for many years to come.
|Date||:||28 April 2021|