However, the use of LIBs in stationary applications is costly because of the potential resource limitations of lithium. Therefore, substantial cost reductions are required to enable ongoing accelerated market growth, particularly for its use in the power grid.
The limitations of conventional energy storage systems have led to the requirement for advanced and efficient energy storage solutions, where lithium-ion batteries are considered a potential alternative, despite their own challenges .
In the electrical energy transformation process, the grid-level energy storage system plays an essential role in balancing power generation and utilization. Batteries have considerable potential for application to grid-level energy storage systems because of their rapid response, modularization, and flexible installation.
In the context of energy management and distribution, the rechargeable lithium-ion battery has increased the flexibility of power grid systems, because of their ability to provide optimal use of stable operation of intermittent renewable energy sources such as solar and wind energy .
This work is supported by the U.S. Department of Energy (DOE) under the Energy Storage and Power Electronics Program, specifically the Office of Electricity Delivery and Energy Reliability (OE), through Contract No. 57558. We are also grateful for guidance provided by Dr. Imre Gyuk, the program manager of the Energy Storage and Power Electronics Program at DOE-OE.
Among various energy storage technologies, LIBs have the potential to become a key component in achieving energy sustainability at the grid scale because of their high energy density, high EE, and long cycle life. In this perspective, the characteristics of LIBs for applications to grid-level energy storage systems are discussed.
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