Used EV batteries, driving towards low-cost storage30 October 2016
The electric vehicle market is set to grow quickly, but so far there has been no consensus on prospects of a ‘second-life’ in stationary storage for the many used EV batteries.
The electric vehicle market is set to grow quickly, but so far there has been no consensus on prospects of a ‘second-life’ in stationary storage for the many used EV batteries. In a new report from BNEF (Bloomberg New Energy Finance) (http:// about.bnef.com/landing-pages/new-life- used-ev-batteries-stationary-storage) senior analyst Claire Curry has compiled what BNEF believes is the first data and shows that low- cost energy storage could be here sooner than previously thought. She projects that:
- There will be 29 GWh of used EV batteries coming out of cars in 2025. This far exceeds the size of the current stationary storage market.
- Of this, almost a third will get a second life as stationary storage (10GWh)
- Today, a new stationary storage system can cost up to $1000/kWh. In contrast, repurposing used EV batteries could cost as little as $49/kWh in 2018, with an additional $400/kWh cost to convert to stationary.
The auto industry is divided on the issue. While Tesla won’t be involved in second life, BMW, Nissan and Mercedes Benz have second-life stationary storage projects in place.