In a fast-paced world of technology and renewable energy, the need for lithium-ion batteries has surged recklessly. With that being said, India is emerging as the key player in electric vehicles and renewable energy storage, where the demand for such setup has never been greater.
It is According to Statista, it is projected that between 2022 and 2030, the global demand for lithium-ion batteries will increase almost seven-fold, reaching 4.7 terawatt-hours in 2030. The reason for this growth is mainly due to the skyrocketing demand for electric vehicles, which usually breed on lithium-ion batteries for power.
But besides electric vehicles, lithium-ion batteries are omnipresent, which are used in the devices, such as laptops, phones, digital cameras and other such tools. Additionally, it is even anticipated, that further improvements in the lithium-ion technology will widen the scope for the range of applications, specialising in this regard. Now let us dive deeper into the resource to help ourselves shape the future of sustainable energy solutions in India.
Together let us embark on this journey to unravelling the strategies for establishing the lithium-ion battery plant setup in India.
What does a Lithium-ion Battery mean?
Lithium-ion batteries have revolutionized the way we power our devices, which have become an integral part of our daily lives. These batteries are rechargeable with a high energy density, which makes them an ideal choice for portable electronics, including smartphones, electric vehicles and laptops.
One of the famous features of lithium-ion batteries is their ability to store and release energy efficiently. It can be made possible through the movement of lithium-ions from positive to negative electrodes of the battery. Now, when the battery is charged, lithium-ions transfer from the positive electrode (Cathode) to the negative electrode (anode), by storing more energy in the process. Once the battery is discharged, the ions then shift back to the cathode, releasing the latent energy.