2Q 2018

Advances in Battery Chemistries Drive Greater Specialization across Energy Storage Applications

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.

Pages 18
Tables | Charts | Figures

  • What are the leading advanced electrochemical battery technologies currently in the market?
  • What are the key metrics used to evaluate market performance in the advanced battery industry?
  • What incremental improvements are being made to each of these advanced battery chemistries?
  • What applications are these batteries currently serving?
  • How do adjacent battery markets (e.g., EVs and consumer electronics) affect business strategy in the advanced battery market?
  • What should governments, manufacturers, and integrators do to ensure the continued success of advanced battery technologies?

  • Advanced battery manufacturers and vendors
  • Stationary energy storage customers
  • Energy storage technology vendors
  • Energy storage software providers
  • Electric utilities
  • Project developers
  • Systems integrators
  • Investor community

Spark

Context

Recommendations

Advanced Batteries Will Unlock Changes to Critical Industries

Key Metrics Will Shape the Emerging Markets for Advanced Batteries

Traditional Advanced Battery Markets Are Spurring New Advancements

Transportation

Stationary Storage

Electrochemical Advanced Batteries Have the Greatest Potential to Shape Key Industries

Li-Ion Batteries

Flow Batteries

Advanced Lead-Acid Batteries

Sodium-Based Batteries

Research Is Paving the Way for Dynamic Advanced Batteries

Li-Ion Batteries Will Remain the Technology Choice for Storage Projects

Flow Batteries Will Challenge Li-Ion Market Share

Advanced Lead-Acid Batteries Benefit from Simple Design and Mature Supply Chains

Sodium-Based Batteries Will Have Lower Prices Than Current Li-Ion Batteries

Stakeholders Must Identify Target Applications and Invest

High Energy Advanced Batteries Will Support Electric Aviation

Virtual Reality and AI Cannot Exist without Electrochemical Batteries

Materials Handling Industry Is Benefiting from Advanced Batteries

Businesses and Governments Must Step Up and Lead

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