One of the most promising applications for the CalBattery VLF battery is as a highly efficient power storage component for Electric Vehicles (EVs) and Hybrid Electric Vehicles (HEVs). Currently batteries used for EVs & series hybrid vehicles are very expensive and range from $8,000 - $18,000/battery system per vehicle. The CalBattery si-graphene material enables new advanced LIBs to perform with 3 times the specific capacity will cost up to 70% less than conventional hybrid vehicle batteries today and supply instant and superior power.
Consumer electronics currently account for most of the global demand for lithium-ion batteries, but the LIB market will increasingly be driven by the many government’s ambitious clean energy goals and regulations that are pushing consumers to buy electric vehicles and use more renewables.
Emerging Grid Storage Market
Grid storage is not a new concept. Energy storage, including lithium battery based energy storage is expected to grow annually in the coming decade from $2 billion today to over a $200 billion market due to the confluence of multiple factors; 1) as the deployment of large amounts of variable renewable energy sources are feed into the grid the need for frequency regulation service will rise, 2) arbitrage by storage of cheaper energy at night to sell back the next day on demand, 3) the high cost and difficulty in siting and building peaker power plants to meet rising energy demands, and 4) to ensure that users will, in case of power disruption, continue to have access to electric power, thus creating new expanding markets for cost effective and scalable Distributed and Community Energy Storage (DES-CES) systems.