Solar panel tech has evolved and prices have come down considerably – but what about batteries? After all, they’re part of the jigsaw, right?
- Battery technology is advancing
- Supply issues halt cost fall
- Batteries forecast to become significantly cheaper
- Our energy landscape could change immeasurably
Just as solar panel technology is evolving and changing [insert link to solar story], so too is battery technology. Which is good news, because if we’re ever going to use solar production to its maximum potential, we need to be able to store it cost-effectively.
“Battery technology is constantly evolving and improving, with advancements being made in areas such as energy density, lifespan, safety, and cost-effectiveness,” says Richard Vargas, Founder and Chairman of United Solar Energy.
“The cost of batteries has been decreasing steadily over the past decade, driven by advancements in technology and economies of scale as more batteries are produced. As a result, batteries have become increasingly affordable for households, and we can expect this trend to continue in the future.”
However, whether or not batteries will become affordable for the average household in the near future depends on how you define ‘affordable’.
“The cost of batteries varies widely depending on the type of battery, its capacity, and its intended use,” says Richard.
“For example, the cost of a small, rechargeable AA battery is relatively low and has been affordable for households for many years. On the other hand, larger batteries used for energy storage can be much more expensive.
“Overall, it’s likely that the cost of batteries will continue to decrease as technology improves and more batteries are produced. As a result, we can expect batteries to become increasingly affordable for households over time. However, it’s difficult to predict exactly when this will happen or how affordable batteries will become.”
The cost of batteries to store solar power
While the cost of batteries has decreased over the past decade, over more recent years that downward trajectory has slowed somewhat – and one of the reasons is… electric vehicles, says Stefan Jarnason, CEO of Solar Analytics.
“Battery cost has come down probably by a factor of two over the past decade, but in the past four years, the price has barely changed at all. In fact, it’s the same price today as it was in 2018 – and the reason for that is because of supply and demand.
“Anyone who can manufacture a battery is selling them to an electric vehicle manufacturer.
“All of the supply chains are still building up – there are currently dozens of gigafactories being built around the world. At some point, just as happened with solar panels, the price of batteries will suddenly drop precipitously because the supply will be able to keep up with demand.”
In terms of advancements in battery technology, says Richard, three things are particularly prevalent.
Solid-state batteries
Solid-state batteries are a new type of battery that use a solid electrolyte instead of a liquid one, which makes them safer and more durable than traditional lithium-ion batteries. They also have the potential to hold more energy and charge faster.
Flow batteries
Flow batteries are a type of rechargeable battery that store energy in chemical solutions housed in separate tanks. They have the potential to store much larger amounts of energy than traditional batteries, making them ideal for use in large-scale energy storage applications.
Lithium-sulphur batteries
Lithium-sulphur batteries are a type of rechargeable battery that use sulphur as the cathode instead of traditional lithium-ion battery cathodes. They have the potential to hold up to five times as much energy as traditional lithium-ion batteries.
It seems that batteries are on the brink of catching up with solar panel technology – and, as long as the supply can meet demand, prices could plummet sooner rather than later, which could change domestic and industrial power supply, and grid demand, considerably.
