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FARADAY INSIGHTS - ISSUE 11: MAY 2021 Future Applications A substantial future market comes from the replacement of the lead-acid batteries used for starting-lighting-ignition (SLI) in car engines. SLI batteries are inexpensive and operate across a broad temperature range. NIBs are an excellent fit with the SLI application, outperforming lead-acid batteries by providing the specified power across the same temperature range but with lighter batteries. They also waste less energy, have a longer lifetime, and avoid toxic lead. The relatively high upfront cost and the need to realise economies of scale mean NIBs are unlikely to penetrate the SLI market within the next 5 years (Figure 2). Recent advances have enabled the manufacture of NIBs with high energy density (~160 Wh/Kg). These are comparable with the lower cost end of the LIB market such as LFP batteries (~160 Wh/Kg). When economies of scale are sufficient to decrease costs to a similar price point, NIBs may be able to displace LIBs in low-cost markets such as auto- rickshaws, e-bikes and short-range or light electric vehicles. Figure 2: Proposed timeline for the deployment of NIBs at scale in various markets Figure 3: Size of global markets in 2018 addressable by NIBs by incumbent technology17,18 20 15 10 5 Diesel generators <80kW Grid and home solar Power tools Other UPS and telecoms E-bikes, forklifts etc SLI Current Early stage pilot applications Within 5 years +5 years Starting lightning- ignition (SLI) batteries 0 Existing markets addressable by sodium-ion batteries. Lead-acid Lead-acid (SLI) (other) Lithium-ion Diesel generators Market Size for Sodium-ion Batteries Residential & industrial storage. Off-grid Niche uses in remote locations Power tools Back-up power supplies for telecoms E-scooters, E-rickshaws, E-bikes, light EVs Most early revenues are likely to arise from the disruption of markets where users desire an alternative to the incumbent LFP lithium-ion battery due to safety concerns, even if at a significant price premium. These early markets are small compared with the total addressable market for NIBs (Figure 3), but they will be key in establishing the manufacturing scale and supply chains needed for later high- volume applications. 17 Avicenne Energy (2020), Worldwide Rechargeable Battery Market 2019-2030. 18 Grand View Research (July 2020) Diesel Generator Market Size, Share & Trends Analysis Report by Power Rating (Low Power, Medium Power, High Power), By Application, By Region, And Segment Forecasts, 2020 – 2027. In 2019, low power gensets (<80kW) account for 43.7% of a 17.5 Bn USD market. 19 Hasa I et al. Challenges of today for Na-based batteries of the future: From materials to cell metrics. Journal of Power Sources 2021, 482: 228872. $ BillionPDF Image | Sodium-ion Batteries: Inexpensive and Sustainable Storage
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