Energy storage: 10 GWh used EV batteries by 2025 for second life stationary storage
The electric vehicle market is set to grow quickly, but so far there has been no consensus on the second-life of the used EV batteries. In a new report, Bloomberg New Energy Finance (BNEF) senior analyst Claire Curry has compiled the first data and shows that low-cost stationary energy storage could be available sooner than previously thought.
29 GWh used EV batteries by 2025
Curry projects, that there will be 29 GWh of used EV batteries coming out of cars in 2025. This far exceeds the size of the current stationary storage market. Of this, almost a third (10 GWh) will get a second life as stationary energy storage.
Used EV batteries for $449/kWh
Today, a new stationary storage system can cost up to $1000/kWh. In contrast, repurposing used EV batteries could cost as little as $49/kWh in 2018, with an additional $400/kWh cost to convert to stationary.
BMW, Nissan and Mercedes projects in place
The auto industry is divided on the issue. While Tesla won’t be involved in second life, BMW, Nissan and Mercedes Benz have second-life stationary storage projects in place. (HCN)