Not only are lithium-ion batteries widely used for consumer electronics and electric vehicles, but they also account for over 80% of the more than 190 gigawatt-hours (GWh) of battery energy storage deployed globally through 2023.
In the context of energy management and distribution, the rechargeable lithium-ion battery has increased the flexibility of power grid systems, because of their ability to provide optimal use of stable operation of intermittent renewable energy sources such as solar and wind energy .
Lithium-ion batteries (LIBs) have nowadays become outstanding rechargeable energy storage devices with rapidly expanding fields of applications due to convenient features like high energy density, high power density, long life cycle and not having memory effect.
Among several battery technologies, lithium-ion batteries (LIBs) exhibit high energy efficiency, long cycle life, and relatively high energy density. In this perspective, the properties of LIBs, including their operation mechanism, battery design and construction, and advantages and disadvantages, have been analyzed in detail.
Despite the continuing use of lithium-ion batteries in billions of personal devices in the world, the energy sector now accounts for over 90% of annual lithium-ion battery demand. This is up from 50% for the energy sector in 2016, when the total lithium-ion battery market was 10-times smaller.
Lithium-ion (Li-ion) batteries are considered the prime candidate for both EVs and energy storage technologies , but the limitations in term of cost, performance and the constrained lithium supply have also attracted wide attention , .