Onori and her colleagues determined, however, that this is not an ideal approach for predicting the life expectancy of EV batteries — a find of particular importance, since batteries still account for about a third the of price of a new EV.
“National Blueprint for Lithium Batteries.” June 7, 2021. U.S. Department of Energy Office of Energy Efficiency and Renewable Energy Vehicle Technologies Office (VTO). 2022. “Batteries.” Accessed Oct. 26, 2022. U.S. Environmental Protection Agency. 2022. “Sustainable Materials Management: Non-Hazardous Materials and Waste Management Hierarchy.”
As volumes increased, battery costs plummeted and energy density — a key metric of a battery’s quality — rose steadily. Over the past 30 years, battery costs have fallen by a dramatic 99 percent; meanwhile, the density of top-tier cells has risen fivefold.
In 2022, about 60% of lithium, 30% of cobalt and 10% of nickel demand was for EV batteries. Just five years earlier, in 2017, these shares were around 15%, 10% and 2%, respectively.
These include tripling global renewable energy capacity, doubling the pace of energy efficiency improvements and transitioning away from fossil fuels. This special report brings together the latest data and information on batteries from around the world, including recent market developments and technological advances.
Battery scientists and engineers have typically tested the cycles of new batteries in laboratories, using a constant rate of discharge, followed by recharge, the authors explained. They then repeat this approach many times to learn if a new design could benefit the battery’s longevity.