The differences in cost between lithium-ion and lead-acid batteries can be summarized as follows:
Upfront Costs
- Lead-Acid Batteries: Generally less expensive upfront, with costs ranging from $100 to $200 per kilowatt-hour (kWh) capacity.
- Lithium-Ion Batteries: Higher initial cost, typically between $300 to $500 per kWh.
Total Cost of Ownership
- Lead-Acid Batteries: While cheaper initially, they require frequent replacements due to a shorter lifespan (typically 3-5 years) and lower cycle life (200-400 cycles). This results in higher long-term costs when considering replacement and maintenance.
- Lithium-Ion Batteries: Despite higher initial costs, they offer a longer lifespan (typically 10 years or more), higher cycle life (often exceeding 3,000 cycles), and require less maintenance. This leads to lower overall costs in the long run.
Other Cost Factors
- Density and Efficiency: Lithium-ion batteries have higher energy density, allowing for smaller and lighter batteries that require less space and energy to charge. This leads to lower shipping and installation costs.
- Charging Time and Labor: Lithium-ion batteries charge faster and often eliminate the need for battery swaps, reducing labor costs associated with charging and maintenance.
Overall, while lithium-ion batteries are more expensive upfront, their total cost of ownership is often lower due to their extended lifespan and efficiency advantages.
Original article by NenPower, If reposted, please credit the source: https://nenpower.com/blog/what-are-the-differences-in-cost-between-lithium-ion-and-lead-acid-batteries/
