The adoption of electric vehicles (EVs) is currently reshaping not just the automotive sector, but also the way energy is stored. As the adoption of EVs accelerates, a new area of innovation is emerging—solid-state batteries (SSBs). SSBs are being advertised as a major breakthrough over lithium-ion batteries with promises of greater efficiency, enhanced safety, and faster charging.
If the commercialization of SSBs happens, they could radically change the clean transport revolution.
Why Solid-State Batteries Matter?
The EV industry has, for a long time, depended on lithium-ion batteries, which are also used in the latest smartphones and electric vehicles. But lithium-ion batteries and SSBs have a range of issues: lithium-ion batteries have low energy density, the chance of fires due to liquid electrolytes, and long charging periods, along with gradual wear over several cycles. SSBs would eliminate all of these issues.
Silicon-Sulfur batteries are different from lithium batteries in that they use a solid electrolyte in place of liquid or gel electrolytes. While chargeable lithium SSBs are viewed as a shift in technology in 2023, they offer many benefits as outlined below:
Expanded Storage Capacity
In a battery, energy density refers to the numerator of a battery with energy stored in it, and thus defines how much energy is allocated into a battery. In SSBs, the anode is made of graphite, while lithium SSBs use lithium metal anodes. This change improves the energy storage of the battery. Toyota estimates that SSBs could be expected to provide a driving range of 1000-1200 km.
Increased Charging Speed
For EV adoption, charging speed is a consumer challenge. Lithium batteries pose a risk of dendrite shorting due to fast charging, which SSBs eliminate. This improvement allows SSBs to achieve full charge in 10 minutes. For consumers, this makes charging as convenient as refueling a gasoline vehicle.
Improved Lifecycle and Lower Costs
Early assessments indicate that some SSB prototypes could withstand over 1,000 charge cycles with minimal impact on performance. This durability reduces replacement needs, lowering long-term maintenance costs both for consumers and manufacturers. Furthermore, this durability could lower the long-term insurance liabilities for EV batteries, which is critical for fleet operators.
Enhanced Safety
SSBs are arguably safest SSBs. They are far less prone to overheating, leaking, or exploding due to the absence of flammable liquid electrolytes. This improves safety for not just passenger vehicles, but also larger trucks, buses, and even aviation.
Trends and Moves in Adoption and the Industry
There is a race among global automakers to develop this new battery technology.
Toyota has the most aggressive goals, stating the solid-state EVs will be capable of 1,200 km of range and a 10-minute charge in 2027.
VW also made headlines with their $300 million investment into one of the SSB industry’s most watched startups, QuantumScape.
Other major corporations like Samsung and Hyundai, as well as Ford, are focusing their attention on creating proprietary Solid-State Battery (SSB) technologies.
It’s no secret that automobile manufacturers are forging ahead on SSB technologies. Solid-state batteries are expected to be a major game-changer, and the first SSB ‘commercialized’ will dominate the EV market for the next decade.
Private investments and government bodies are fully funding the goal. For example, the U.S. Department of Energy provided $200 million in grants for the development of new battery technologies, and other European and Asian countries are funding local startups. Stock market investors are excited too, and have emulated previous trends that followed Bukalapak’s IPO.
Obstacles Stand in the Way
However, the adoption of SSBs is met with a number of roadblocks. Scalability is only one of the challenges that prevent the widespread use of solid-state batteries.
Manufacturing and Scale-Up
The entire solid-state battery creation and production line is not optimized for mass production. Also, the automotive industry will find its costs skyrocketing with the level of innovation and development that will be expected of them. Advancements in techniques for mass production will further drive cost-effectiveness.
Material Supply and Stability
Each solid electrolyte, whether it be sulfide, polymer, or oxide, has a unique balance of trade-offs regarding conductivity, cost, and stability. For example, sulfide electrolytes may boost conductivity, but their susceptibility to moisture severely impairs production.
Durability and Performance Degradation
While some prototypes appear to be promising, their ability to endure a finite number of cycles hampers their commercial potential. Research and development processes are needed to meet decade-long EV lifecycle targets and ensure consistency.
Cost Barriers
Solid-state batteries, which McKinsey projected to be priced at over $100 per kWh in the early 2030s, would enable EVs to be economically advantageous. Solid-state batteries exorbitant cost hinders adoption; until then, the solid-state batteries remain severely priced.
Market Outlook
The growing presence of solid-state batteries positively impacts the market. EV solid-state batteries are anticipated to rise from $3.32 billion in 2024 to $77.42 billion by 2034, a stunning 37.2% compound annual growth rate.
Beyond automobiles, IDTechEx foresaw the global demand for solid-state batteries to exceed $8 billion by 2031, anticipating demand from trucks, buses, grid storage, and consumer electronics.
Environmental and Policy Implications
SSBs can help countries meet climate goals by improving the adoption of EVs. SSBs enhance energy density, which reduces the need for mining and materials. Furthermore, SSBs enhance the safety of renewable energy systems, making them safer for use in renewable energy storage systems. The adoption of SSBs by automotive companies has been accelerated by clean energy transition policies, Europe’s prohibition on the sale of new internal combustion engine vehicles after 2035.
Prospects for the Future
We can anticipate the onset of the “solid-state revolution” in energy storage and expect an energetic contribution from automotive manufacturers, new companies, and governments in the race to clear the final hurdles to commercialization. The potential upside EVs, trucks, aircraft, portable electronics, and grid storage are a fraction of the potential upside from having lighter, safer, and longer-lasting batteries. SSBs stand to offer more than lithium-ion batteries and EVs. They offer the potential to transform SSB adoption, and technology and industry dynamics as we know them. Manufacturers stand to gain an unprecedented competitive edge, while the EV market undergoes a transformation for consumers as vehicles become cheaper, safer, and faster charging.
The competition has started, and the prize is nothing less than the future of transportation.
Citations
https://www.marketresearchfuture.com/reports/electric-vehicle-solid-state-battery-market-33205
https://chemdive.com/bukatoko-soars-25-as-indonesias-biggest-ipo-fuels-tech-excitement/
