All-solid-state batteries can use a wide range of chemistries, but the leading candidate for commercialization uses lithium metal. Quantumscape, for example, is focused on its technology and raised hundreds of millions of dollars before going public in 2020. The company has a deal with Volkswagen to put its batteries in cars by 2025.
However, completely reinventing the battery has proven difficult, and lithium metal batteries suffer from degradation over time and manufacturing challenges. Quantumscape said in late December that it had provided samples to its automotive partners for testing. This is an important milestone for the installation of solid-state batteries in automobiles. Other solid-state battery players like Solid Power are also working on making and testing batteries. However, the battery won’t be on the road in 2023, even though it could still hit a major milestone this year.
All-solid-state batteries are not the only new technology to watch. Sodium-ion batteries are also a big departure from today’s common lithium-ion chemistry. These batteries have a similar design to lithium-ion batteries with a liquid electrolyte, but instead of relying on lithium, they use sodium as their primary chemical component. Chinese battery giant CATL is reportedly planning to start mass production in 2023.
Sodium-ion batteries may not improve performance, but they do reduce costs by relying on materials that are cheaper and more widely available than lithium-ion chemistry. It’s not clear if it can meet the charging time needs. As such, some companies pursuing this technology, such as US-based Natron, aim to launch low-demand applications such as stationary storage and micro-mobility devices. e-bikes, scooters, etc.
Currently, the market for batteries intended for fixed-grid storage is small, about one-tenth the size of the EV battery market, according to Yayoi Sekine, head of energy storage at energy research firm Bloomberg NEF. However, major renewable energy sources such as wind and solar are variable, and batteries help store energy when you need it, so as more renewables are installed, the demand for electricity storage will grow. It is rising.
Lithium-ion batteries, although commonly used today, are not ideal for stationary storage. Batteries for EVs are getting smaller, lighter and faster, but the main goal of stationary storage is to reduce costs. Size and weight are less important in grid storage.
One of fixed storage’s rising stars is iron, with two players likely to make progress going forward. Form Energy is developing an iron-air battery that uses a water-based electrolyte and essentially utilizes reversible rust to store energy. The company recently announced a $760 million manufacturing facility in Weirton, West Virginia, which he plans to begin construction in 2023. Manufacturing began at our headquarters in Wilsonville, Oregon.
Standard shift
As lithium-ion batteries continue to improve and become cheaper, researchers are still fine-tuning the technology to achieve better performance and lower costs.
