Energy storage is the key to creating a carbon-free future. Up until recently, stationary energy storage costs have been on a constant decline, driven by increased and more efficient production. But the global pandemic, increased shipping costs, and current recession have disrupted many energy storage supply chains, rising prices.
Consider how according to IHS Markit, the price of one of the main materials used for stationary energy storage (lithium) has risen by over 900% since the end of 20191. Add to this the fact that increased competition with automakers, that are also using lithium batteries to power their EVs, and you have quite a challenge on your hands.
Powin’s commitment: Safe, cost-effective & and reliable batteries
Up until recently, Nickel-Manganese-Cobalt (NMC) batteries have been the li-ion battery of choice of many major system integrators, but supply chain strain as well other technological limitations are changing this. That’s where lithium-iron phosphate (LFP) comes in.
At present, lithium-iron phosphate (LFP) technology is becoming the go-to chemistry for energy storage system integrators. And this makes sense. LFP is more affordable, has a longer usable life, is safer and its supply chain is less volatile. This is echoed by research from IHS Markit which shows how from 2022 to 2030, LFP will account for 75% of the market2. Additionally, for high-frequency regulation projects in the energy storage industry, LFP can provide more power.
As part of our commitment to ensure your batteries are safe, cost-effective, and reliable, we have been pioneers in the industry in being one of the first adopters of using LFP batteries for our BESS products since 2011. Our track record speaks for itself. In over a decade of delivering the highest quality energy storage solutions. Powin batteries have been successfully operating under extreme climate conditions in various operating modes.
Navigating supply chain challenges
Powin is in a unique position to bypass much of the supply chain disruption because we source battery cells from a variety of carefully vetted cell vendors and design our own battery modules, packs, and stacks. By prioritizing the provision of the best possible monitoring and control solutions down to the cell level with our in-house BMS, we are able to work with a variety of cell vendors while ensuring optimal performance and longevity of our systems.
By controling all stages of manufacturing and integrating our hardware with our own software, we ensure the highest level of system safety, quality, longevity, and performance. Our vertical integration and diversification of cell suppliers empowers us to mitigate cost fluctuations and ensures a steady supply of batteries.
What this means for you:
- Confidence in Delivery and Schedule
- Reduction of Significant Cost Fluctuations
- Peace of mind (best quality energy storage systems)
Partnering for progess & quality (you can trust)
We’re constantly working to establish partnerships with various battery cell suppliers that have standardized on a specific form factor and physical cell dimensions. This standardization enables us to take advantage of advancements in cell capacity, as the ratings continue to improve. These partnerships give us the flexibility to quickly switch to higher-capacity cells and enhance the capacity of our systems, all while ensuring safety and reliability. Due to Powin’s proprietary and cell agnostic BMS, we could even swiftly incorporate new cell chemistries to our platform when emerging technologies mature.
We carefully evaluate all cell vendors, ensuring they produce high-quality batteries that meet our stringent safety and performance standards. This way, if there are any capacity shortages or price fluctuations in the market, our alternative battery cell vendor strategy helps us keep costs under control and ensure timely installation of BESS, avoiding delays.
1 Data Source: Battery Energy Storage System Capex Report, IHS Markit 2022
2 Data Source: Battery Market Tracker, IHS Markit 2022