Battery demand is growing—and so is the need for better solutions along the value chain.
One of the key ways to address this need is through the reuse and repurposing of used EV batteries. These batteries still have a significant amount of usable energy storage capacity, and can be used in a variety of applications beyond powering vehicles. For example, they can be used in stationary energy storage systems, such as in homes or businesses, or in grid-scale energy storage projects.
Nissan Leaf battery pack with modules being repurposed to build a battery energy storage system for industrial customers
A recent publication by McKinsey & Company finds that repurposing used EV batteries can not only prolong their useful life, but also reduce the environmental impact of battery production, as well as the need for raw materials. Additionally, it can also help to lower the cost of energy storage.
Furthermore, the article states that a circular economy approach, where resources are kept in use for as long as possible, can help to create more resilient and sustainable energy systems. By reusing and repurposing used EV batteries, we can move closer to this goal.
From linear to circular
According to the good folk at McKinsey: Achieving circularity along the entire value chain could increase resilience against supply shortages and price volatility. It will also mitigate risks related to battery-waste disposal. Companies could gain additional value by adopting circular business models, such as battery as-a-service or mobility as-a-service, repair, refurbishment and second-life applications. If none of these options is available, then battery recycling is essential. Circularity will necessitate cross-industry collaboration and partnerships, as well as data transparency and harmonized standards.
Not sitting on the sidelines
We exist to make a circular economy for EV batteries a reality. So, we're all-in when it comes to doing our part in closing the loop, in doing away with the linear take-make-waste system and seeking ways to reuse, repurpose and recycle batteries. Here is some of the work we're doing today: