Lithium Battery Recycling to Reach $2B by 2022?
Source: EV World (3/3/11)
"EV battery recycling to become a significant part of the value chain by 2016."
"Global Electric Vehicles Lithium-Ion Battery Second Life and Recycling Market Analysis" finds EV battery recycling will become a significant part of the value chain by 2016, when significant quantities of EV batteries will come through the waste stream for recycling. The EV Li-Ion battery recycling market is expected to be worth over $2 billion by 2022, with more than 500,000 end-of-life EV battery packs becoming available.
Although lithium currently costs less than other raw materials needed for manufacturing a battery, there's an inherent risk because its availability is dependent on a small geographic area. Almost 70% of lithium deposits are in South America.
For second life, Li-Ion batteries will compete with dedicated batteries used for current second-life applications like stationary grid storage and compete in terms of cost, power and energy storage, as most of the characteristics of Li-Ion batteries with regard to their degradation at reuse are still uncertain.
Apart from cobalt or nickel in existing battery packs, only a few valuable metals with the potential to be used in batteries are under research and development. The advent of Li-Ion batteries is expected to spur automotive and utility industries to sell common fuel electricity to consumers. Furthermore, with second life applications, Li-Ion batteries are poised to contribute to a further net reduction in emission, like that of carbon dioxide, beyond that achieved by using an EV.