P. Shrivastava
PwC India,
India
Keywords: CAPEX (capital expenditure), grid scale storage, emerging battery technologies
Summary:
Lithium-ion batteries (LIBs) have taken center stage in both e-mobility and stationary applications, particularly in grid systems. They serve as the backbone of grid-scale energy storage, striking a balance between energy and power density, quick response times, and revenue generation through various services like frequency regulation, time shifting, and peak shaving. However, concerns regarding LIBs include geopolitical dependencies on raw materials, reliance on rare earth minerals, environmental impacts, recyclability, and safety issues. To address these limitations, emerging technologies such as sodium-ion batteries, sodium-sulfur batteries, redox flow batteries, solid-state batteries, and advanced lithium-ion technologies (featuring reduced lithium content and enhanced safety) are being considered. Numerous countries, including China, South Korea, Australia, Japan, and the USA, have been investigating these alternatives for over a decade. Although commercial deployment of these technologies is still limited due to high capital expenditures, lack of financing, absence of local manufacturing despite abundant resources, and lack of standardization, the global shift towards renewable energy and increasing demand for clean energy solutions highlight the necessity to explore alternative storage technologies. It’s essential to evaluate not just the technical aspects but also the economic, environmental, and societal effects of these options. This presentation aims to provide insights for researchers, policymakers, and industry stakeholders by discussing the latest advancements, challenges, and potentials of next-generation battery technologies. Specifically, it will focus on solid-state batteries, sodium-ion, metal-ion, and lithium-sulfur chemistries, as well as other alternatives beyond lithium. By exploring these topics and contributing to ongoing discussions in the scientific community this would outline a path forward for the future of energy storage.