Market Research Report
Advances in Battery Chemistries Drive Greater Specialization across Energy Storage Applications
|Published by||Navigant Research||Product code||635657|
|Published||Content info||18 Pages
|Advances in Battery Chemistries Drive Greater Specialization across Energy Storage Applications|
|Published: May 10, 2018||Content info: 18 Pages||
Research surrounding improved battery chemistries is progressing quickly and will soon have a significant impact on the battery industry. Lithium ion (Li-ion) is the primary chemistry used today for applications that require flexible operating parameters. However, several emerging applications such as materials handling, advanced transportation, and artificial intelligence (AI) call for more robust design, flexibility, and duration considerations. Li-ion's current grasp on industrial-scale applications is weak because of input costs, safety issues, and materials scarcity. It is thus vulnerable compared to optimized chemistries that solve some or all of those problems.
Advances in battery technology have enabled energy storage to meet the performance requirements for short-duration power-focused and long-duration energy-focused applications. These successes are driving revised market rules and regulations that will enable energy storage systems to deliver load management benefits to a diverse customer base. New business models are being driven by the emergence of predictable revenue flows for advanced battery asset owners. Each emerging advanced battery application-whether it be materials handling vehicles or lift/elevation energy for electric aircraft-will be required to meet different power, energy, reliability, safety, lifecycle, and cost criteria. While Li-ion batteries will continue to improve, new technologies like flow, advanced lead-acid, and sodium-based batteries will eventually be optimized for specialized applications, especially when more energy and faster charging are required.
This Navigant Research report explores the incremental improvements that scientists and engineers are making in advanced battery technologies that can serve diverse use cases, including transportation and grid storage. The study analyzes the traditional specifications, reported shortcomings, and future roadmaps of Li-ion, flow, advanced lead-acid, and sodium-based battery technologies. Navigant Research outlines the innovations happening on the individual cell and system levels and how these will shape the advanced battery industry. Emerging markets for these batteries are detailed and key recommendations are provided for governments, manufacturers, and business owners.