Like all new technologies, cost is a barrier for the adoption of new battery technologies.
This position paper from DNV Research & Innovation discusses how the cost of electric vehicles can be reduced if the batteries are treated as revenue portals. In order for maximum value to be derived from these technological revenue portals, the risks associated with their degradation and reliability in multi-use contexts must be well understood and mitigated. DNV is enabling a multi-use battery industry by conducting research and engaging in standards that support the validation of batteries in this context.
In the last five years, there has been a shape change in the electric vehicle market influenced by the availability of new battery chemistries with higher energy density than any previous electricity storage medium for vehicles. Despite the fact that electric vehicles have been around as long as gasoline and diesel vehicles, it is only now that advancements in nanomaterial have provided a viable electric vehicle solution.
Figure: Batteries from EV use are retired to another application, such as grid storage.
In addition, the energy density of new lithium chemistries opens the opportunity for new value propositions for batteries. Batteries used in electric vehicles can serve for a limited lifetime before their capacity or reliability limits their functionality. The position paper looks at how these batteries may be used for other purposes. The risks associated with the capture of residual battery energy value in applications besides electric vehicles are also discussed. DNV is working with partners, performing battery testing, and developing recommended practices around this concept.
To learn more, download our position paper, or visit our blog.