Also, lead-acid batteries are cheaper because of their wide availability. Given that lithium-ion battery contains landfill -safe materials, they are recyclable. Also with a higher lifespan of 2-3 times longer than lead-acid batteries, it can be argued that lithium-ion batteries are “greener”. 3. How fast can you charge them?
Battery storage is becoming an increasingly popular addition to solar energy systems. Two of the most common battery chemistry types are lithium-ion and lead acid. As their names imply, lithium-ion batteries are made with the metal lithium, while lead-acid batteries are made with lead. How do lithium-ion and lead acid batteries work?
A lead acid battery system may cost hundreds or thousands of dollars less than a similarly-sized lithium-ion setup - lithium-ion batteries currently cost anywhere from $5,000 to $15,000 including installation, and this range can go higher or lower depending on the size of system you need.
Most lithium-ion batteries are 95 percent efficient or more, meaning that 95 percent or more of the energy stored in a lithium-ion battery is actually able to be used. Conversely, lead acid batteries see efficiencies closer to 80 to 85 percent.
In summary, the total cost of ownership per usable kWh is about 2.8 times cheaper for a lithium-based solution than for a lead acid solution. We note that despite the higher facial cost of Lithium technology, the cost per stored and supplied kWh remains much lower than for Lead-Acid technology.
Lithium batteries are also more environmentally friendly than lead-acid batteries. They do not contain toxic chemicals such as lead and acid, which can be harmful to the environment if not disposed of properly.