That is one of the major findings in a new study authored by Aman Kumar, an MSc in Energy Management student at ESCP Business School, which explores how recycling and repurposing EV batteries are key to sustainability efforts.
Kumar says that companies such as B2U Storage Solutions and Allye Energy are leading in converting old EV batteries into valuable assets, promoting a circular economy, as well as extending battery life.
With lithium-ion battery use set to grow hugely by 2030, their 15-20 year lifespan poses environmental and safety risks if not properly recycled.
Each year, thousands of fires caused by batteries in waste management facilities or vehicles are reported in the United Kingdom and Australia.
These incidents, along with others worldwide, highlight the hazards of improper disposal and underscore the urgent need for sustainable solutions.
"Repurposing EV batteries for secondary applications such as battery energy storage systems (BESS) is a pivotal strategy," Kumar explains. "It not only maximises the remaining capacity of these batteries but also supports grid stability and enhances renewable energy integration."
"As the world accelerates towards sustainable energy solutions, the role of repurposed EV batteries in stabilising grids and supporting renewable energy sources cannot be overstated," says Kumar. "These initiatives not only mitigate environmental impact but also offer economic advantages, making them a win-win for both businesses and consumers."
ESCP Business School, founded in 1819, has chosen to teach responsible leadership, open to the world and based on European multiculturalism. It has six campuses in Berlin, London, Madrid, Paris, Turin and Warsaw.
