A Formulation Model for Computations to Estimate the Lifecycle Cost of NiZn Batteries

Abstract

The increasing demand for electricity and the electrification of various sectors require more efficient and sustainable energy storage solutions. This paper focuses on the novel rechargeable nickel–zinc battery (RNZB) technology, which has the potential to replace the conventional nickel–cadmium battery (NiCd), in terms of safety, performance, environmental impact, and cost. The paper aims to provide a comprehensive and systematic analysis of RNZBs by modeling their lifecycle cost (LCC) from cradle to grave. This paper also applies this LCC model to estimate costs along the RNZB’s lifecycle in both cases: per kilogram of battery mass and per kilowatt hour of energy released. This model is shown to be reliable by comparing its results with costs provided by recognized software used for LCC analysis. A comparison of LCCs for three widely used battery technologies: lead–acid, Li-ion LFP, and NMC batteries, which can be market competitors of NiZn, is also provided. The study concludes that the NiZn battery was found to be the cheapest throughout its entire lifecycle, with NiZn Formulation 1 being the cheapest option. The cost per unit of energy released was also found to be the lowest for NiZn batteries. The current research pain points are the availability of data for nickel–zinc batteries, which are in the research and development phase, while other battery types are already widely used in energy storage. This paper recommends taking into account the location factor of infrastructures, cost of machinery, storage, number of suppliers of raw materials, amount of materials transported in each shipment, and the value of materials recovered after the battery recycling process to further reduce costs throughout the battery’s lifecycle. This LCC model can be also used for other energy storage technologies and serve as objective functions for optimization in further developments.