Applications: Battery Energy Storage Systems (BESS)
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BESS Is Predominantly LFP-based, But Faces Limitations For Long Duration Applications LEADING BESS CHEMISTRY LFP has overtaken NMC as the dominant stationary storage chemistry, accounting for over 80% of ESS today
LIMITATIONS OF LI-BASED ESS FOR LONGER DURATIONS Li-ion ESS is cost-effective for short durations in 2 use cases: (1) Demand-supply matching from few seconds to 1 hr (2) Energy arbitrage (i.e. buy energy/charge when it’s cheap, sell/discharge during higher-price hours)
Li-ion is not cost effective past 8 hours at current prices for either use case scenario, driving the investigation of alternative chemistries (see LDES)
Source: Cathode chemistry chart from CRU Group (Distinguished Partner). cost effectiveness graphic from MCJ Newsletter.
Extracted from the PDF; charts and images may read imperfectly.
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