Lithium based batteries currently hold the top spot for demand within the battery industry, with sodium-ion batteries emerging as a new technology within this sector.
With sodium being an abundant resource, it adds to the appeal of manufacturing sodium-ion batteries. Thorough research and experimentation of sodium-ion batteries continues to take place as it is an industry with a huge market potential due to increasing energy demands and a need for disruptive innovation. The demand and supply for sodium-ion batteries falls in line with the economic thinking that by becoming more easily accessible, individuals can benefit from cheaper batteries in coming years.
The research in sodium-ion batteries can also mean big things for adjacent industries. Electric vehicles (EVs) are an industry on the rise, and could be a huge benefactor in the success of sodium based batteries. It could also mean things for the solar industry, as there are promising experiments producing results of long-lasting battery power; enough to store solar energy.
Comparing sodium-ion batteries to its lithium counterpart will give a more holistic view on the two technologies. Lithium-ion batteries are more developed in terms of practical applications and range as it has been the industry standard for years, giving it a significant advantage over other battery technologies. Despite this, sodium-ion batteries still offer its own advantages, as the resource is a fraction of the cost of its lithium counterpart and is incredibly fire retardant which can make it a viable alternative for the future.
The industry is evidently taking note of the growing trend in sodium based alternatives, as numerous tech companies such as CATL, a key supplier for emerging companies like TROES, HiNa, Altris, and Natron are conducting their own experiments with sodium based batteries. Spurred by the constant demand for innovation within energy, batteries and energy storage are on the rise as key players in the tech industry. At companies like TROES, an emerging firm that works to provide revolutionary and cost effective energy storage solutions, advances in battery technology remain on the radar of many as new innovations in the energy industry remain essential for our future.