Infographic: Lithium exploration in Canada
The Northern Miner takes a look at how market capitalizations among the main players exploring for lithium in Canada differ between the price's peak and its present level.
Sodium-ion batteries could rival lithium-ion batteries in cost by the 2030s, according to a Stanford study.
The study by Sustainability’s Precourt Institute for Energy and the SLAC-Stanford Battery Center evaluated over 6,000 scenarios to assess sodium-ion’s cost and scalability potential.
Sodium-ion batteries are gaining attention due to abundant resources – sodium is more widely available and less expensive than lithium, suggesting a cost advantage. These batteries are compatible with existing lithium-ion manufacturing infrastructure, enabling rapid deployment, the study found.
These advantages contribute to the perception that sodium-ion batteries could offer lower costs and more resilient supply chains compared to lithium-ion batteries. The amount of energy they hold per pound, however, tends to be lower than lithium-ion batteries.
“We recognized that if, when, and how sodium-ion batteries might undercut lithium-ion on price was largely speculative, especially given that the price of lithium-ion continues to fall,” said Yao, a doctoral candidate and former founder of a lithium-ion battery startup now operating at a commercial scale.
The study highlights several development priorities for sodium-ion batteries to compete with low-cost lithium-ion variants, such as lithium-iron-phosphate (LFP).
Developers need to achieve energy densities comparable to LFP batteries. The authors note that moving away from costly materials like nickel is essential. Most current sodium-ion designs rely on the metal.
“Assuming that substantial progress can be made through targeted research and development, we identify several sodium-ion pathways that might reach cost-competitiveness with low-cost lithium-ion variants in the 2030s,” the researchers noted.
While the researchers caution against assuming a near-term price advantage for sodium-ion batteries over lithium-ion technologies, particularly before 2030, they emphasize sodium-ion’s potential role in the energy transition. Supply chain volatility could further enhance the appeal of sodium-ion as a scalable alternative.
“Sodium-ion batteries have the potential to support global energy sustainability goals by providing a viable alternative to lithium-ion technologies under certain conditions,” the study concluded.
