Northern lithium battery energy storage

What are lithium-ion batteries used for?

Not only are lithium-ion batteries widely used for consumer electronics and electric vehicles, but they also account for over 80% of the more than 190 gigawatt-hours (GWh) of battery energy storage deployed globally through 2023.

Can Li-ion batteries compete with longer-duration storage?

Despite the large potential, there is still significant uncertainty regarding the role of longer-duration storage, and the possible technologies that can compete with Li-ion batteries in a shift toward longer durations.

Will EVs & stationary storage increase the lithium battery market?

The demand for EVs and stationary storage is projected to increase the size of the lithium battery market five-to ten-fold by the end of the decade, making U.S investments to accelerate the development of a resilient domestic supply chain for high-capacity batteries essential.

How much energy does a battery storage system use?

The average for the long-duration battery storage systems was 21.2 MWh, between three and five times more than the average energy capacity of short- and medium-duration battery storage systems. Table 1. Sample characteristics of capital cost estimates for large-scale battery storage by duration (2013–2019)

What is a lithium-ion battery and how does it work?

The lithium-ion (Li-ion) battery is the predominant commercial form of rechargeable battery, widely used in portable electronics and electrified transportation.

How much does battery storage cost?

The costs of installing and operating large-scale battery storage systems in the United States have declined in recent years. Average battery energy storage capital costs in 2019 were $589 per kilowatthour (kWh), and battery storage costs fell by 72% between 2015 and 2019, a 27% per year rate of decline.