Comparing the costs of solid-state batteries to lithium-ion batteries involves several factors, including production cost, lifecycle cost, and overall value.
Current Production Costs
- Lithium-Ion Batteries: The cost of lithium-ion batteries has been decreasing over the years and is currently around $100 to $150 per kilowatt-hour (kWh).
- Solid-State Batteries: Solid-state batteries are more expensive, with current costs ranging from $800 to $1,200 per kWh. However, these costs are expected to decrease significantly in the future. Estimates suggest prices could drop below $200 per kWh by 2028 and potentially reach $80 to $90 per kWh by 2030.
Lifetime Value
- Energy Density and Range: Solid-state batteries have a higher energy density, typically around 500-700 Wh/kg, compared to lithium-ion’s 250-300 Wh/kg. This means solid-state batteries can offer longer driving ranges for electric vehicles.
- Safety and Reliability: Solid-state batteries eliminate the risk of thermal runaway and fires associated with liquid electrolytes in lithium-ion batteries, potentially reducing maintenance and replacement costs over time.
- Charging Speed and Cycle Life: Solid-state batteries can charge faster but may have a shorter cycle life in some tests. However, they are projected to last longer in terms of overall vehicle lifespan (100,000 miles vs. 60,000 miles for lithium-ion).
- Potential Cost Savings: Despite higher upfront costs, solid-state batteries could reduce costs over their lifetime by reducing the need for expensive cooling systems and safety measures required for lithium-ion batteries.
Conclusion
While solid-state batteries are currently more expensive to produce, their potential for increased energy density, safety, and faster charging can lead to cost savings and a longer lifespan. As production scales up and technology improves, solid-state batteries could become more competitive with lithium-ion batteries in both cost and overall value. However, until production costs decrease significantly, lithium-ion batteries remain more cost-effective for widespread adoption.
Original article by NenPower, If reposted, please credit the source: https://nenpower.com/blog/how-do-the-costs-of-solid-state-batteries-compare-to-lithium-ion-batteries-over-their-lifetimes/
