In the automotive industry, the cost of batteries is one of the key factors that determine the price of an electric vehicle (EV). However, the cost of batteries is still one of the major barriers to the widespread adoption of EVs.
In this article, we will take a look at the cost of batteries from LG Chem along with the benefits they offer.
Table of Contents
What Is An LG Chem Battery?
The LG Chem Battery is a technology that uses unique chemistry to store energy. It is a high-efficiency battery that is lightweight and has a long lifespan.
Traditional lead-acid and lithium-ion batteries have many drawbacks, including high weight, low efficiency, and short life spans. These drawbacks can make it difficult to use batteries for grid-scale energy storage.
LG Chem’s RESU Battery is a game-changing technology that overcomes the limitations of traditional lead-acid and lithium-ion batteries. RESU is a high-efficiency battery that is lightweight and has a long lifespan.
RESU Prime Batteries
LG Chem has developed a new line of RESU batteries called RESU Prime. RESU Prime batteries are designed for residential and commercial energy storage systems. They are available in various sizes and capacities, from 3.3 kWh to 9.8 kWh.
Usage Of LG Chem RESU Batteries As Solar Batteries
LG Chem RESU batteries can be used as high-voltage solar batteries. Solar batteries use solar energy at night or during a power outage.
Solar batteries are typically charged during the day when the sun is shining and discharged at night or during a power outage.
Types Of LG Chem RESU Batteries:
- RESU10H: 10 kilowatt-hours (kWh), 400 volt (V)
- 4K: 6.4 kWh, 480 V
- RESU Li-ion: 4.5 kWh, 360 V
- 3K: 3.3 kWh, 324 V
- 5K: 1.5 kWh, 300 V
- 75K: 0.75 kWh, 240 V
The Cost Of LG Chem Batteries
LG Chem supplies batteries to major automakers such as General Motors, Volkswagen, and Tesla.
The cost of the LG Chem automotive battery varies depending on the size and type of battery. For example, the cost of a 24 kWh battery for a Tesla Model S is around $9,600. On average, an LC Chem battery costs around $11,000 to $15,000 in Tesla models, depending on various factors.
However, the good news is that the cost of batteries is expected to continue to fall in the future. LG Chem has announced that it is investing $1.4 billion to build a new battery factory in Arizona, USA. This new factory is expected to start production in 2024.
The cost of batteries is one of the key factors in the price of an electric vehicle.
As the cost of batteries continues to fall, we expect that the price of electric vehicles will become more competitive with traditional petrol and diesel vehicles.
Specifications of LG Chem Batteries And Effect On Price
The cost of batteries is one of the key factors in the price of an electric vehicle. The specifications of LG Chem batteries have a direct effect on the cost. The size, type, and capacity of the battery will all affect the price.
1. AC-Coupled And DC-Coupled Batteries
AC-coupled batteries cost more than DC-coupled batteries, but they have more advantages, including the ability to store solar energy for a longer period and the ability to use solar energy during a power outage.
AC-coupled batteries are typically used in residential and commercial energy storage systems. DC-coupled batteries are typically used in electric vehicles.
2. Inverter
Lithium-ion batteries also have the advantage of being able to work with an inverter. This means you can use them to power things like laptops and cell phones.
The average inverter efficiency of a lithium-ion battery is about 95%, which is much higher than other types of batteries.
3. Stack Output
The output of the LG Chem RESU battery stack will depend on the particular model and voltage. For example, the 10 kilowatt-hours (kWh), 400 volts (V) model will have an output of 10 kWh at 400 V. The 6.4 kWh, 480 V model will have an output of 6.4 kWh at 480 V.
The kWh of usable capacity is the amount of energy stored in a solar battery. Usable capacity is typically expressed as a percentage of the total capacity of the solar battery. For example, a solar battery with a total capacity of 10 kWh and a usable capacity of 80% would have a usable capacity of 8 kWh.
4. Solar Panels Installer
Solar panels can be installed by a solar panel installer or a do-it-yourselfer. Solar panel installers are typically approved by NABCEP and have experience installing solar panels.
DIY solar panel installation is typically less expensive than hiring a solar panel installer, but it requires more time and effort. Solar panel installers typically charge by the hour, ranging from $50 to $100 per hour.
A DIY solar panel installation typically costs between $1 and $3 per watt, depending on the complexity of the installation.
5. Battery Storage Capacity
The capacity of LG Chem RESU batteries ranges from 3.3 kWh to 9.8 kWh, making them suitable for a variety of applications with a maximum power rating and capacity retention.
6. Durability And 10-Year Warranty
These batteries have a proven safety record and also come with a very impressive 10-year performance warranty. This means that you can be sure that they will last for a long time and will not need to be replaced very often.
7. Round Trip Efficiency
LG Chem RESU batteries are able to store and release a lot of energy, making them perfect for use in things like electric cars. The average round-trip efficiency of a lithium-ion battery is about 80%, which is much higher than other types of batteries.
8. Solar Battery Warranty
Solar batteries typically come with a warranty that covers the cost of replacement or repair for a certain period of time. Solar battery warranties typically range from 5 to 10 years.
Some solar batteries, like the Tesla Powerwall 2, also come with a guarantee that the battery will maintain a certain amount of capacity over its lifetime. For example, the Tesla Powerwall 2 has a guaranteed minimum capacity of 70% after 10 years of use.
The Benefits Of LG Chem Batteries
The industry-leading LG Chem batteries have many benefits that make them an attractive option for electric vehicle manufacturers.
1. Long Lifespan
LG Chem batteries have a long lifespan and can last up to 10 years or more. This is much longer than the traditional lead-acid battery, which has a lifespan of 3–5 years.
2. Compact Size And Lightweight
LG Chem batteries are much smaller and lighter than traditional lead-acid batteries. This makes them more suitable for use in electric vehicles, where space is often limited.
3. High Efficiency
Unlike normal lead acid batteries, LG Chem batteries tend to come with a higher energy density. Meaning that they are able to contain a larger capacity of energy in a smaller space. High energy capacity is important for electric vehicles because it allows the vehicle to travel further on a single charge.
4. Fast Charging
LG Chem batteries are charged much faster than other batteries. This is perfect for electric vehicles, which need to be able to charge quickly to reduce range anxiety.
5. Safe
LG Chem batteries do not contain hazardous materials such as lead and cadmium and are less likely to catch fire or explode.
6. Easy Installation
LG Chem batteries are easy to install and can be installed by anyone. LG Chem batteries have a small environmental impact, ensuring that you can go green without sacrificing performance.
Applications Of LG Chem Batteries
LG RESU batteries have a wide range of applications. They can be used in electric vehicles, grid-scale energy storage, solar energy systems, wind energy systems, portable electronics, and more.
LG Chem batteries are an important part of the electric vehicle industry. Electric vehicles need batteries that are compact, lightweight, and have a long lifespan. LG Chem batteries meet all of these requirements.
LG Chem batteries are also used in solar energy systems. Solar batteries store solar energy during the daytime and release it at night or during a power outage. Solar batteries are a key component of solar energy systems.
Due to their compact and lightweight design, LG Chem batteries are also used in portable electronics such as laptops and cell phones.
Tips And Tricks To Get The Most Out Of Your LG Chem Battery
Here are some tips and tricks to get the most out of your LG Chem battery:
1. Use A Battery Management System
A battery management system (BMS) is a device that helps you to get the most out of your battery. A BMS can help you charge your battery more efficiently and prolong its lifespan.
2. Keep Your Battery Cool
It is important to keep your battery cool, as high temperatures can damage the battery. One way to keep your battery cool is to park your car in the shade or use a battery cooling system.
3. Avoid Full Discharges
Avoiding full discharges is important for prolonging the lifespan of your battery. Try to keep your battery above 20% charge.
4. Use The Battery Regularly
Using your battery regularly keeps it in good condition. If you don’t use your battery often, it can become damaged and lose capacity.
Conclusion
LG Chem batteries are a great option for those looking for an efficient and long-lasting battery.
They tend to be more costly than some of the other options on the market, but they also provide more benefits. Also, with a 10-year warranty, you can be sure that your investment will pay off in the long run.