Interesting Things About Batteries
The next few lines are about batteries, especially sodium-ion batteries, which I understand are the next evolutionary step in using batteries mainly in stationary applications (for example, houses).
Sodium-ion batteries have a similar design to lithium-ion batteries (those that you have in your phone, or electric vehicle), which makes existing infrastructure for manufacturing lithium-ion batteries applicable also for sodium-ion batteries. It is an important thing because:
— Sodium-ion batteries might be 10-30% cheaper because of the less expensive materials used to manufacture them
— Sodium is much more abundant (the sixth most abundant element) and cheaper in comparison with Lithium
— Sodium-ion batteries are generally considered safer, with lower risk of fire
— Sodium-ion batteries do not require Cobalt (mining of cobalt causes human rights violations)
— Sodium-ion batteries have a better life-cycle (they can be charged and discharged more times), and can operate in a wider range of temperatures (-30C to 60C)
On the other hand:
— Sodium-ion batteries have much lower energy density (the amount of electrical power that a battery can store with respect to its mass) in comparison with lithium-ion batteries.
This is quite problematic for usage in EVs, or mobile devices but for places where space is less of a big deal, their lower energy density is not so much of a confounding factor (stationary places).
Two charts that make this even more interesting
The history of solar photovoltaic panels reveals fascinating price trends. Since 1975, solar panel costs have dropped approximately 12% annually. This price reduction is partly attributed to the significant growth in solar installations across the globe (the more things you make, the cheaper they become over time).
The expansion of solar panel installations is very probable, which should maintain the downward price trend. Additionally, technological innovations, such as thinner or more efficient panels, are expected to contribute to further cost reductions.
The fact that we will have more solar photovoltaic panels opens the discussion about the following (simple) charts.
Note: The chart is made by me. I hope you enjoy my drawing capabilities.
We have basically two options for “overproduction” energy from solar photovoltaic panels:
— Send it back to the grid
— Store it in batteries
The first option has its own limitations, as you can see on the chart. The grid has its own capacity, and if every house were to send electricity back, it would reach the limit very fast (actually, now you have to pay in order to send the electricity made from your solar photovoltaic panels to the grid here in the Czech Republic). The second option is more reasonable: store the energy in batteries and use it when you need it.
If sodium-ion batteries continue to develop (as they probably will), they become a very interesting technology for house batteries due to their lower price and sustainable aspects.
The last point that makes it even more interesting is that Bain, a consultancy, estimates that the market for grid-scale storage could expand from around $15bn in 2023 to between $200bn and $700bn by 2030, and $1trn-3trn by 2040. These numbers are very impressive, but I think we need to take them with a grain of salt (sodium joke included). Nevertheless, the battery market is very interesting, and I will continue exploring it!