- Recently, NITI Aayog has released a report titled “Advanced Chemistry Cell Battery Reuse and Recycling Market in India”, stating India’s Battery demand will increase significantly by 2030.
- The total cumulative potential for battery storage in India will be 600 GWh by 2030.
- Between 2010 and 2020, the global demand for batteries grew at a compound annual growth rate (CAGR) of 25% to reach an annual demand of about 730 GWh.
- By 2030, the demand for batteries is expected to grow four folds to reach an annual rate of 3,100 GWh.
- The current deployment of Lithium-Ion Batteries (LIBs) in India is dominated by consumer electronics, which comprises smartphones, laptops, notebooks, tablets and is further expected to grow with the digitalisation of platforms and the integration of technology in day-to-day life with a cumulative market of 4.5 GWh.
- EVs (Electric Vehicles) and consumer electronics will be the major demand drivers for the adoption of battery storage in India.
- EV sales accounted for around 10% of the LIB (0.92 GWh).
- The electrification of transportation and battery energy storage in electricity grids are expected to be the key drivers in the growth of battery demand.
- A coherent regulatory framework incentivising all stakeholders to participate in the recycling process can help in the development of a battery recycling ecosystem in the country.
- Lithium-ion Batteries
- It uses an intercalated (Intercalation is the reversible inclusion or insertion of a molecule into materials with layered structures) lithium compound as one electrode material, compared to the metallic lithium used in a non-rechargeable lithium battery.
- The battery consists of electrolyte, which allows for ionic movement, and the two electrodes are the constituent components of a lithium-ion battery cell.
- Lithium ions move from the negative electrode to the positive electrode during discharge and back when charging.
- Electronic gadgets, Tele-communication, Aerospace, Industrial applications.
- Lithium-ion battery technology has made it the favourite power source for electric and hybrid electric vehicles.
SOURCE: THE HINDU,THE ECONOMIC TIMES,MINT