CNBC on how energy storage could revolutionize industries in the next 10 years

CNBC reports (LINK) that over the last decade a surge in lithium-ion battery production has led to an 85% decline in prices, making electric vehicles and energy storage commercially viable for the first time in history. Today the batteries hold the key to transitioning away from fossil fuel dependence, and are set to play a greater role in the coming decade.

Credit CNBC

UBS estimates that over the next ten years the energy storage market in the United States could grow to as much as $426 billion, and there are many ways to buy into the surge, including chemical companies, battery cell makers, car companies, solar companies and utility companies. “Capturing the massive economic opportunity underlying the shift to controls and battery-based energy systems requires that planners, policymakers, regulators, and investors take an ecosystem approach to developing these markets,” sustainability-focused research firm Rocky Mountain Institute said recently.

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IBM proposes sustainable successor to lithium-ion battery

IBM Research reports (LINK) on a cobalt and nickel free battery technology based on a new cathode and electrode material. Dr. Young-Hye Na (LINK) is the manager of the research group dedicated to ‘Materials and Process Innovations for Energy Industry’ at IBM Almaden Research Center. Her research team is currently focusing on the development of next generation energy storage systems including metal-air batteries, solid-state electrolytes, new battery chemistries based on Cobalt-free cathode materials, and microbatteries.

Most lithium-ion battery material stacks include metals such as nickel and cobalt, which pose tremendous environmental and humanitarian risks in the sourcing of metals. Especially cobalt that is mined in the Democratic Republic of Congo has come under fire for careless and exploitative extraction practices. Recently, International Rights Advocates sued Apple, Tesla, and other tech companies over the deaths of children working in these mines (LINK).

The new battery still uses lithium, but because it is generated from seawater rather than mined, there is little impact on the environment.

IBM development lab for next-generation batteries (Photo credit: IBM Research's lab in Almaden, California)

Texas on track to install large-scale battery storage in the power grid

According to an article in the Houston Chronicle (LINK), Texas is adopting large-scale battery storage as battery prices fall, technology improves, and electricity demand grows. Now in the starting point, the amount of storage on the state’s power grid is still small at just 100 megawatts in a system with a generating capacity of nearly 80,000 megawatts. However, Texas is expected to more than triple the capacity to about 360 megawatts in 2020 and grow even faster in the coming years. Also, they are considering proposals to develop some 7,200 megawatts of large-scale battery storage within the next five years or so, exceeding the amount of natural gas generation in the pipeline.

 

According to the article, the growth of battery storage has boosted by falling prices for batteries. The price for lithium-ion batteries for electricity storage fell 35 percent to $187 per megawatt-hour in March compared to the first half of 2018 (Bloomberg New Energy Finance). By 2024, the costs for installing battery storage may fall to a point low enough for batteries to undercut natural gas-fired power plants during peak hours.

 

Background on power grid battery energy storage:

 

 

Clean Energy Solutions Center This webinar introduces key concepts for understanding the value of battery energy storage systems; reviews the services they can provide to the grid; and explores when, where, why and how they can be deployed economically.

Lithium battery prices continue to fall - Market average at $156/kWh in 2019

[BloombergNEF, December 3, 2019] Battery prices, which were above $1,100 per kilowatt-hour in 2010, have fallen 87% in real terms to $156/kWh in 2019. By 2023, average prices will be close to $100/kWh, according to the latest forecast from research company BloombergNEF (BNEF). 

BNEF’s 2019 Battery Price Survey, published today at the BNEF Summit in Shanghai, predicts that as cumulative demand passes 2TWh in 2024, prices will fall below $100/kWh. This price is seen as the point around which EVs will start to reach price parity with internal combustion engine vehicles.

Source: BloombergNEF LINK

General Motors announces a new ($2.3B) battery giga-factory joint-venture with LG Chem

General Motors has announced a new ($2.3B) joint-venture with LG Chem to build their own battery giga-factory, which will have 30 GWh of annual capacity, in Lordstown, Ohio. GM is going to make the packs, and LG Chem will be in charge of battery cell production. 

 

The companies claimed that they were on track to eventually be below the $100/kWh barrier, which is often cited as the point at which it becomes cheaper to produce a BEV than the equivalent internal combustion vehicle. BEVs already usually have a lower total cost of ownership. 

 

The 30GWh number will represent 30% of the expected 100GWh capacity that LG expects to have online by the end of 2020. That’s enough to build 2 million 50kWh electric vehicle battery packs.

 

 

 

“With this investment, Ohio and its highly capable workforce will play a key role in our journey toward a world with zero emissions,” said GM Chairman and CEO Mary Barra. “Combining our manufacturing expertise with LG Chem’s leading battery-cell technology will help accelerate our pursuit of an all-electric future. We look forward to collaborating with LG Chem on future cell technologies that will continue to improve the value we deliver to our customers.”

 

Source: General Motors (LINK)

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By Abhishekkumar Thakur

BMW has invested SEK 650 million in Swedish Northvolt

[Translated from Swedish, LINK] According to Swedish media (DN and DI), the German car manufacturer BMW is one of several who announced this summer that they will continue to invest in Northvolt battery maker. Today's News reports that BMW has invested a total of SEK 650 million in the Swedish Battery company.

Group14 Technologies to scale up manufacturing of a next generation anode material

[Press Release BUSINESS WIRE LINK] Group14 Technologies (LINK) today announced $18 million in new financing from Amperex Technologies Limited (ATL), Showa Denko (SDK), Cabot Corporation, BASF Venture Capital, and OVP Venture Partners. The new funds will be used to scale up manufacturing of a next generation anode material and advance into commercial production.