The cost comparison between lithium-ion and lead-acid batteries over their lifetimes shows that although lithium-ion batteries have a higher upfront cost, they are significantly more cost-effective when considering total cost of ownership.
Upfront Cost
- Lead-acid batteries typically cost less initially, about $65-$150 per kWh depending on the quality and type. For material handling applications, lead-acid batteries can range from $150 to $1,500.
- Lithium-ion batteries have a higher initial purchase price, generally between $150 to $500 per kWh or more, with material handling lithium batteries ranging from $700 to $2,000.
Battery Performance and Usable Capacity
- Lead-acid batteries have lower usable capacity because they can only be discharged safely up to about 50% of their total capacity without damaging the battery.
- Lithium-ion batteries can be discharged up to 100%, effectively doubling the usable capacity compared to lead-acid with the same nameplate rating.
Lifespan and Cycling
- Lead-acid batteries have a shorter lifespan, typically about 2 years or fewer than 1,000 cycles at 50% depth of discharge.
- Lithium-ion batteries last longer with around 3,000 cycles or about 8 years lifespan under typical use conditions.
Total Cost of Ownership
- When factoring in lifespan, usable capacity, maintenance, and efficiency, lithium-ion batteries cost approximately 2.8 times less per usable kWh over their lifetime than lead-acid batteries.
- Lead-acid batteries require more frequent replacement, higher maintenance, and have lower energy efficiency, which increases operational costs over time.
- Lithium-ion batteries also have lower labor and energy costs due to faster charging and less maintenance requirements.
Summary Table
| Factor | Lead-Acid Battery | Lithium-Ion Battery |
|---|---|---|
| Initial Cost per kWh | $65 – $150 | $150 – $500+ |
| Usable Capacity (%) | ~50% | ~100% |
| Lifespan (years/cycles) | ~2 years / <1,000 cycles | ~8 years / ~3,000 cycles |
| Cost per Usable kWh (over life) | Higher (~2.8 times lithium-ion) | Lower (more cost-effective) |
| Maintenance | Higher maintenance and labor | Lower maintenance and labor |
| Energy Efficiency | Lower (~50% discharge depth) | Higher (100% discharge depth) |
In conclusion, despite a higher initial cost, lithium-ion batteries offer much better value over their lifetime compared to lead-acid batteries due to their longer lifespan, higher efficiency, greater usable capacity, and lower maintenance needs. This makes lithium-ion batteries a more economical choice for long-term energy storage.
Original article by NenPower, If reposted, please credit the source: https://nenpower.com/blog/how-does-the-cost-of-lithium-ion-batteries-compare-to-lead-acid-batteries-over-their-lifetimes-3/
