When looking at the cost of a battery system, either domestically or commercially or as an electric vehicle it is important to look at “total cost of ownership” of TCO.
This means not only considering the initial cost of the battery but;
the costs of all the components of a battery system that are needed for an installation including inverters, MPPT’s, communications etc.,
the length of time to install a complete system,
The running costs associated with the system, including maintenance,
The expected lifetime of the battery installation
End of life disposal costs.
Up until now, in Australia, end of life costs for batteries have not been considered. This is becoming increasingly problematic for lithium-ion batteries. Multiple lithium-ion chemistries need to have multiple processes for dismantling, recycling and recovery processing, meaning there is not a standard recycling process that can be put in place.
In fact, lithium phosphate batteries (LFP), which are a safer lithium-ion battery technology, due to it being less likely to catch fire, actually have less value when recycling, meaning LFP batteries have a higher upfront cost but will also have a higher recycling cost, although they are inherently safer than Li-NMC batteries.
