We can also prepare project report on any subject as per your requirement.] (Rs. In Lakhs) A lithium-ion battery or Li-ion battery (abbreviated as LIB) is a type of rechargeable battery. Lithium-ion batteries are commonly used for portable electronics and electric vehicles and are growing in popularity for military and aerospace applications.
The lithium-ion battery market in India is expected to increase from 2.9 GWh in 2018 to about 132 GWh by 2030 (CAGR of 35.5%). The increasing volume of lithium-ion batteries would, in turn, lead to a growing capacity of 'spent' batteries in the ecosystem which if left untreated would lead to health and environmental hazards.
The expansion is expected to increase the annual output capacity for battery production to up to 60 GWh. The deal is the largest green loan raised in Europe to date and will facilitate the creation of a fully integrated circular battery production facility that has not previously existed outside Asia. EIB Vice-President Thomas Östros stated.
However, with the passage of the Inflation Reduction Act of 2022, tax credits are now available for standalone energy storage systems, and thus lenders may be willing to provide bridge capital that is underwritten based on the receipt of proceeds from an anticipated tax equity investment, similar to renewable energy projects.
Lithium-ion has become the dominant rechargeable battery chemistry for consumer electronics devices and is going to become also the most competitive technology for industrial, transportation, and power-storage applications.
ELIBAMA (European Li-Ion Batteries Advances Manufacturing) is a 3 years’ project, aiming at enhancing and accelerating the creation of a strong European automotive battery industry structured around industrial companies already committed to mass production of Li-ion cells and batteries.