Top 5 Lithium Batteries For Commercial Energy Storage
Lithium batteries are used in most aspects of our daily lives. We subconsciously interact with these batteries everyday through smartphones and laptops. With international efforts to adopt net zero emissions by 2050, lithium is the battery chemistry of choice that will help transform the world to cleaner energy faster. Thanks to ongoing technological advancements, lithium batteries are now being used on a bigger scale with commercial, industrial, and institutional (CII) energy storage.
The Top 5 Lithium Batteries
There are many different types of lithium-ion batteries each with pros and cons. It is imperative to choose the right one for your energy storage project. The top five lithium-ion batteries compared today are:
- Lithium Iron Phosphate,
- Lithium Nickel Manganese Cobalt Oxide,
- Lithium Manganese Oxide,
- Lithium Nickel Cobalt Aluminium, and
- Lithium Titanate
The differences between them lie in their chemical components, molecule structures and cathode materials. Different batteries offer different features such as energy density, power, battery performance, safety, lifespan, cost and more. We will discuss the difference between the types of lithium batteries, introduce their technology maturities and suitable applications to help you pick the correct battery for your application. The table below provides a summarized comparison of the lithium-ion battery types.
1. Lithium Iron Phosphate (LiFePO4)
SAFETY:
POWER DENSITY:
ENERGY DENSITY:
COST:
LIFECYCLE:
PERFORMANCE:
4/4
3/4
2/4
3/4
4/4
4/4
PROS:
CONS:
+Highest Safety Rating
+Long Lifecycle
+Strong Power Capability
-Lower Energy Density
Lithium Iron Phosphate (LFP) has a moderate to a high rating in all characteristics except energy density. LFP offers a high-power density, a high-level of safety, very high lifespan and comes at a low cost. The performance of this battery is also high compared to other batteries.
Out of all lithium batteries, LFP is arguably the number one choice for commercial energy storage systems, electric vehicles, and other applications thanks to the advantage of having a long lifespan and one of the highest safety records of all lithium batteries.
Lithium iron phosphate technology has been around for decades but still continues to grow in the battery market, proving LFP chemistry is as reliable as it is mature. Due to its remarkable achievement in safety and lifespan, LFP is recommended for projects replacing old Lead Acid batteries, diesel optimization/augmentation, backup power, and frequency regulation.
2. Lithium Nickel Manganese Cobalt Oxide (LiNiMnCoO2)
SAFETY:
POWER DENSITY:
ENERGY DENSITY:
COST:
LIFECYCLE:
PERFORMANCE:
3/4
2/4
4/4
3/4
3/4
2/4
PROS:
CONS:
+Highest Safety Rating
+Low Cost
-Lower Energy Density
-Lower Performance
Lithium Nickel Manganese Cobalt Oxide (NMC) has two significant advantages compared to other lithium batteries: high energy density and low cost. NMC has a high energy density allowing it to store more energy compared to a similar sized battery. While this benefit makes NMC desirable for electric powertrains, electric vehicles, and electric bikes, it has caused concerns for car owners who might worry about their vehicles catching on fire after a collision.
NMC has low to moderate characteristics in terms of power, safety, life span, and performance compared to other lithium batteries. It can be optimized to either have a high specific power or high specific energy by changing the NI & Mn percentage in the chemical component. Nickel and Cobalt are finite resources that require lots of mining and produce emissions in the process. Companies like Tesla are shifting to LFP from NMC in their EVs due to supply concerns as well as how superior the chemistry is.
3. Lithium Manganese Oxide (LiNm2O4)
SAFETY:
POWER DENSITY:
ENERGY DENSITY:
COST:
LIFECYCLE:
PERFORMANCE:
3/4
3/4
3/4
3/4
2/4
2/4
PROS:
CONS:
+Enhanced Safety
+Low Cost
-Limited Performance
-Lower Life Span
Lithium Manganese Oxide (LMO) is a well-balanced battery that follows the tagline “Jack of all trades, master of none.” LMO features moderate power density and energy density compared to the other types of lithium batteries. Its two main advantages are the low cost to produce the batteries as well as its high thermal stability and enhanced safety.
The drawbacks with LMO include a below average battery performance and life span requiring the battery to be augmented or replaced more often than other battery types. LMO batteries were first published and used in 1996 proving the technology is mature and advancing. LMO is usually used in medical devices and power tools primarily due to the safety and cost advantages.
4. Lithium Nickel Cobalt Aluminium (LiNiCoAIO2)
SAFETY:
POWER DENSITY:
ENERGY DENSITY:
COST:
LIFECYCLE:
PERFORMANCE:
2/4
4/4
4/4
1/4
4/4
2/4
PROS:
CONS:
+High Power
+High Energy Density
+Long Lifecycle
-Expensive
-Weak Performance
-Low Safety Rating
Lithium Nickel Cobalt Aluminum (NCA) is composed of equal parts of nickel, cobalt, and manganese. NCA cells have one of the highest power and energy capabilities as well as an incredibly long life cycle making them a common choice for stationary applications and the electromobility sector. NCA is incredibly powerful which is the biggest advantage but also its biggest downfall.
The high percentage of cobalt in its chemistry makes it one of the more expensive lithium-ion battery types. Cobalt is a difficult resource to supply and has negative effects on the environment. Due to unpredictable safety and performance, consumers find it difficult to incorporate it as the battery of choice for energy storage systems.
5. Lithium Titanate (Li2TiO3)
SAFETY:
POWER DENSITY:
ENERGY DENSITY:
COST:
LIFECYCLE:
PERFORMANCE:
4/4
3/4
2/4
1/4
4/4
4/4
PROS:
CONS:
+High Power Density
+Good Thermal Stability
+Long Lifecycle
-Expensive
-Low Energy Density
Lithium Titanate (LTO) exhibits strong benefits in terms of performance, power, and chemical stability, which are all important features every battery should have. The combination of characteristics paired with LTO’s fast recharge time makes it a reliable option for stationary applications like energy storage.
LTO has two disadvantages. The major disadvantage of lithium titanate compared to other batteries is its extremely high cost due to its low worldwide production volume. The other disadvantage is its lower energy density due to the cell voltage potential of titanate.
Lithium titanate anode batteries have been known since the 1980s. Due to limited production, it cannot easily scale to commercial and industrial applications; however, it has huge potential for future space exploration.
Which Lithium Battery is The Best?
Battery energy storage is a key technology in the world’s transition to a sustainable future. Energy Storage systems provide a wide support of use cases such as frequency regulation, back-up power, peak shaving, and other grid services. It is important to familiarize yourself with different lithium batteries and choose the chemistry that makes sense from a financial, and economical perspective.
Most of the lithium batteries have a particular use cases that works best for a specific field. When it comes to commercial and industrial energy storage systems, lithium iron phosphate is the most versatile and reliable option thanks to its many advantages including high power density, high performance, inherently safe and non-toxic materials, and long life cycle. These characteristics make LFP a very attractive technology for battery energy storage systems.
