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Innovation Drives Down the Cost of Powering Electric Cars

Ronald Bailey of Reason writes about the ways in which innovation is reducing the cost of powering electric vehicles.

The C3 Take
  • Lithium prices have reached $74,000 per ton as demand for electric vehicles soars.
  • Innovators are developing more affordable alternatives like sodium-ion batteries.
  • China-based CATL has developed a sodium-ion battery that takes 15 minutes to charge and lasts twice as long as current lithium-ion batteries.
  • Natron Energy in the United States is also developing breakthroughs in sodium-ion batteries to address our energy needs.

“What about storing energy for utilities? Form Energy in Somerville, Massachusetts, has developed a gigantic iron-air battery that it says can store more than 100 hours of solar and wind electricity. To discharge energy, oxygen entering the battery produces hydroxide ions that rust the iron pellets, sending electrons to the circuit. Recharging reverses the process, turning rust back into metal and releasing oxygen bubbles. The company projects that its battery packs will cost less than $20 per kilowatt-hour, making them competitive with legacy power plants.”

Read the full article here.

The views and opinions expressed are those of the author’s and do not necessarily reflect the official policy or position of C3.

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