Lithium Batteries are the mainstream high energy density (250-300Wh/kg for terpolymer lithium battery and 160-220Wh/kg for lithium iron phosphate) solution for portable power supplies. The DJI Mavic 3 drone uses a 4S lithium polymer battery (3,850mAh) with 46-minute duration, while a nickel-metal hydride battery of the same weight can only last for 12 minutes of duration. In the portable power supply market worldwide in 2023, the market share of lithium batteries is 89% (7% lead-acid batteries, 4% nickel-metal hydride batteries), and the light weight advantages are significant: Anker 535 (1,024Wh) weighs only 11kg, while lead-acid batteries with the same capacity weigh 28kg.
Competitiveness is enhanced by charging efficiency and cycle life. Lithium iron phosphate (LFP) battery cycle life is over 3,000 times (capacity retention rate > 80%), and the Tesla Powerwall energy storage system can still maintain 92% of the original capacity after 10 years of use. The fast charging technology has achieved 4C charging (e.g., Ningde Kirin batteries), and it can be charged to 80% in 15 minutes, while lead-acid batteries take 6-8 hours. The OPPO 240W Super flash charge, released in 2023, fills a 4,500mAh lithium battery in 9 minutes with an energy conversion efficiency of 98% (85% for standard chargers).
The cost economy is being optimized continually with the expansion of scale. Lithium battery pack prices declined from 1,200/kWh in 2010 to 139/kWh in 2023 (down 88%), and portable power LCOS (levelized energy storage cost) is 0.15/kWh (0.28/kWh for lead-acid batteries). The Jackery 2000 Pro (2kWh) is priced at 1,999 and has a usage cost of 0.40 over 5,000 cycles, 53% less than a diesel generator ($0.85/kWh). There is, however, the threat of raw material volatility: lithium carbonate reached a price high of ¥600,000/ ton in 2022, and cell cost increased 30% in the near term.
Safety and temperature tolerance are concerns. Ternary lithium battery thermal runaway temperature is approximately 150 ° C (lithium iron phosphate > 200 ° C), after the explosion of the Samsung Note 7, the pass rate of the international mandatory standard battery needle test increased from 78% to 98%. The performance of lithium batteri deteriorates significantly at extreme temperatures: iPhone 14 Pro battery life reduces by 60% at -20 ° C, while the lithium titanate battery (LTO) only decreases by 15%. However, the Tesla Megapack widens the range to -30℃~50℃ through the liquid cooling temperature control system, and the cycle life is also increased by 20%.
Environmental effects and recycling technology should be improved. Lithium batteries possess carbon footprint 35kg CO₂/kWh (25kg CO₂/kWh for lead-acid batteries), but the recycling rate is only 5% (99% for lead-acid batteries). Redwood Materials’ closed-loop recycling technology has the potential to increase the recycling rate of lithium, cobalt and nickel by as much as 95%, reducing the carbon footprint per kWh of the battery by 40%. The EU’s recently enacted Battery Regulation makes it compulsory for the recycling rate of lithium batteries to reach 70% by 2030, promoting the transformation of the industry into a circular economy.
Emerging technologies threaten market share. Sodium battery (energy density 90-160Wh/kg) costs 30% less, and -20℃ capacity retention rate 85% (lithium battery 65%), Yadi electric vehicle sodium electric version is priced lower than lithium version ¥800. Solid state battery laboratory energy density exceeded 500Wh/kg, Toyota targets 2025 mass production, charging speed increased by three times. However, the world’s lithium battery production capacity in 2023 still expands at a rate of 72%, indicating that it is invincible in the short term.
Application scenarios affirm the core values. In medicine, ECMO equipment can maintain 12 hours of usage with lithium batteries (500Wh) (traditional power supply for only 4 hours), and the rescue rate is enhanced by 60%. For outdoor use, the Jackery 1000 (1kWh) powers drones (60W), fridges (50W) and lights (10W) for 20 hours and weighs just 9.5kg (diesel generators weigh 32kg for the equivalent power). In accordance with BNEF forecasts, the world’s requirement of portable lithium batteries in 2030 is 1.2TWh (450GWh in 2023), an average annual growth rate of 19%, showing that it is still the current optimum solution but needs continuous technology innovation to cope with the competition.