Renewable energy sources have a major impact on the stability the power grid due to their randomness and intermittence in energy generating process. The widespread adoption of renewable energy and electric vehicles (EVs) requires the energy storage systems with enhanced energy and power densities, optimized efficiency, reduced cost, and possibility to eliminate use of a scarce natural resource. Increased energy capacities, faster recharge time, and enhanced safety, are the main needs of lithium-ion battery (LIB) technologies. The cutting-edge innovations in battery technology enable to face the present and future challenges of the energy storage sector with the development of high-performance, cost-efficient batteries. This research study titled “Techno-economic Analysis and Application Mapping of Emerging Battery Technology” focuses on the emerging innovations and the latest achievements in the technology landscape of battery storage.

The study presents a snapshot of emerging battery technologies, their advantages and limitations, possible application and impact on battery industry. The discussed battery technologies with different chemistries are optimized for different applications and market fit, and are aiming to reduce the cost of energy storage. Special attention is given to the challenges, such as high cost, raw materials supply shortage, and safety issues. Additionally, it presents the performance analysis and comparison of different battery technologies, and their application mapping.

The growth opportunities of Battery Storage:

•     High-energy density battery is being a key disruptor. The main research efforts are aimed at the development of new chemistry batteries with extended energy density. Higher energy density of the battery and optimal energy management will increase the overall electric vehicle performance, as well as the vehicle driving range.
•      Renewable energy implementation contributes to the growth of battery storage. Battery storage solutions will constitute a fundamental part of the future energy grid.
•     The main factor that drives adoption of current Li-ion technology is the decline in battery price. Novel battery chemistries are aiming to further reduce the cost of battery, and create new opportunities for energy and automotive sectors.

The findings and growth opportunity depicted in this study will help to drive the economic growth and technology revolution of the battery industry.
The study deeply illustrates the following:
•     Emerging Battery Technology – overview and current technology trends
•     Factors driving adoption and development of battery storage
•     Key properties, drawbacks, research and development (R&D) activities
•     Snapshot of emerging battery storage technologies, applications, and future prospects
•     Technology benchmarking for smart decisions