All You wanted to Know About Lithium Batteries

A battery that has lithium as its anode is known as a lithium battery. A lithium battery consists of anode, cathode, separator, electrolyte and current collectors. When the battery is charging, the positive electrode gives up some of its lithium ions which pass through the electrolyte to the negative electrode. The battery captures this energy and stores it. The movement of the lithium ions creates free electrons and a charge that flows to the device being powered.

Read about the Advantages And Disadvantages of Lithium Batteries

Lithium batteries are gaining popularity on rising demand for electric vehicles and also in energy storage. Other applications include telecom, energy storage, government projects, and toys. Eminent consumers of lithium are Tesla, Panasonic, Samsung, and LG. In fact, Tesla signed a long-term contract with a large lithium producer, Ganfeng. Indian players like Reliance, Mahindra, Ola, Adani, Suzuki, Mahindra, JSW, Hero are planning to set up giga-size battery factories in India. According to Reuters, lithium demand touched about 320,000 tonnes last year and is expected to reach 1 million by 2025 and 3 million by 2030. It is also estimated that about 80% of world lithium will be used by the electric vehicle industry and the balance 20% by electronics, energy storage, and other gadgets by 2030.

Lithium battery technology has been witnessing significant cost reductions in the last few years. The average price of Lithium Battery in India for DC (Direct Current) Solution is Rs. 25 per watt-hour and for (AC- Alternating Current) Energy Storage Application is Rs. 30 per watt-hour including all costs.  At homes, our appliances work on AC. The product range of lithium batteries starts from 75 Watt hour to 5,000 Watt hour (5kWh) for DC to DC solution and power backup solution.

Prior to lithium batteries, lead-acid, nickel-based, and flow batteries were being popularly used. However, advantages like high energy density, lightweight, fast charging, portability, long life, safety, low maintenance, long life, etc. have led to lithium batteries becoming popular for application in  EVs and energy storage. It is a no-brainer that demand for lithium is going to increase in the next decade as countries are pushing the adoption of EVs as well as aiming at achieving an uninterrupted power supply in energy storage applications. Australia, Chile, China, and Argentina are the top four countries with high lithium production.