Household Battery Market Hurt by EV Adoption
High electric vehicle sales cause household battery market to suffer
Electric cars rely on lithium-ion batteries to power their zero-emission engines. Consequently, these batteries charge at increasingly impressive rates. Otherwise, the electric revolution would be a losing battle. As a result, the competing household battery market slowly declines.
READ: Peak-Hour Charging a Norwegian Problem
Moreover, high-ranking officials in the EV charging industry predict the market won’t exist in the near future.
This has already started to happen in the home electronics market. Non-rechargeable batteries have less than a 3% market share. Consider that all electronics in your home are powered by rechargeable batteries – most of them lithium-ion.
End of residential storage
Meanwhile, cars aren’t driven 95% of the time. As a result, they have the potential to contribute to large grid storage projects.
Evidently, your EV’s battery could help power your community. Through bi-directional charging, residential stationary energy storage will soon be phased out.
Consequently, an infinitely more sustainable energy source will soon power your home – your eco-friendly car.
EVs an energy asset
Ultimately, lead-acid and other non-rechargeable batteries will soon become extinct. Moreover, bi-directional charging will soon replace the often wasteful ways in which we power our communities.
Lithium-ion batteries are an essential weapon in the battle against climate change.
Additionally, both automakers and governments now have several financial incentives to abandon combustible engines in favour of those powered by Li-Ion batteries.
Soon, your ride to work will power your home.
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Ultra Lithium Inc. A team of clean energy experts with a finger on the pulse of clean energy news, ULI is a lithium exploration company with lithium holdings in Argentina, Canada and the US and gold holdings in Argentina. (TSX-V: ULI, OTCQB: ULTXF and Frankfurt: QFB).
