Rapidly Increasing Market of Lithium Solar Batteries

As you invest in high-quality solar panels to harness energy from the sun, it makes sense to choose the right batteries for solar power storage. That should also help you be confident to live off-grid. Rather than settling for widely available lead-acid batteries, consider more reliable options like lithium batteries, particularly lithium iron phosphate (LiFePO4). Lithium solar batteries are known for their higher efficiency and longer lifespan. Despite their higher price tag, their long-term value is what matters to discerning customers who prefer them over traditional batteries for reliable energy storage. 

The increasing popularity of the lithium solar battery 

Batteries represent the rapidly growing aspect of the fast-expanding energy storage market. In 2017, 1.4 gigawatts and 2.3 gigawatt-hours of capacity were deployed around the world. There may be a wide selection of technologies available in the battery industry, which has been primarily ruled by lead-acid for the longest time. However, lithium-ion is the widely utilized chemical for reliable energy storage. 

The biggest battery storage market is in the US. In 2018, 61.8 megawatts of power capacity was installed during the second quarter, as per the Energy Storage Monitor, the report series of the Wood Mackenzie Power and Renewables and Energy Storage Association. The market is said to have grown 60 percent every year because of solar power’s implementation in residential settings. 

Lithium-ion battery cell production in the world is projected to increase to 523 gigawatt-hours by 2025 from 109 gigawatt-hours in 2017. The increase is attributed to the increasing demand from electric vehicles. As more businesses and residences consider lithium solar batteries, you could also expect those sectors to contribute to the demand, too. 

Over the previous decade, lithium battery production resulted in an 85 percent decline in cost, which resulted in energy storage becoming more commercially viable. Lithium solar batteries are perceived as one of the factors that will enable the transition from fossil fuel in the coming years. 

Why use lithium batteries for solar applications 

With lithium solar batteries, maintenance and environmental impact of your power source will be the least of your concerns. They are highly efficient, with a longer lifespan and more usable capacity. Moreover, they can perform even in the most extreme conditions. 

LiFePO4 is the most stable lithium that can store more energy than lead acid and other kinds of lithium. It provides more safety, too, with a built-in battery management system and protection against overcharging, over discharging, thermal shock, and short circuits.

About the Author: 

Lithium Battery Store sells LiFePO4 deep cycle systems that are made with American cells and assembled in China. Distribution is worldwide. This is the leading company looking for the latest technology advancements to make sure that the customers get the latest and greatest, best quality battery technology at the best price. Lithium Battery Store feels pride in working with customers closely to get the exact battery they need, and it is happy to work with people and answer any questions about this ‘newer’ battery technology.