How big is the Second-Life EV battery market?

As written in their recently updated market report, “ Second-life Electric Vehicle Batteries 2025-2035: Markets, Forecasts, Players, and Technologies “, IDTechEx predicts that by 2035, the global second-life EV battery market will be valued at US$4.2 billion. Key second-life BESS applications

Are EV battery companies working on a second-life energy storage system?

It was reportedly working on a proof-of-concept 300 kWh stationary energy storage system. Other companies in the second-life EV battery sector include Connected Energy, which has made commercial applications deployments. It has developed a battery agnostic E-STOR energy storage system using thousands of old EV batteries.

How much does a second life battery cost?

Market prices ranging from 44 to 180 USD/kWh are suggested for second life batteries in order for SLB to be an affordable option. The second life ageing need to be further investigated in order to ensure that SLB is feasible from an economic and environmental perspective.

Can second-life batteries be used for energy storage?

Second-life batteries can be cost-effectively used for energy storage to integrate renewables into the grid. ReJoule, a southern California-based developer of a battery health assessment process, recently received $2.9 million in grant funding (along with CleanSpark) from the California Energy Commission to validate this capability.

Who is repurposing EV batteries for second-life applications?

Key second-life battery player activity IDTechEx has identified over 20 players repurposing retired EV batteries for second-life applications globally (excluding China). In some cases, automotive OEMs have also been directly responsible for developing their own second-life battery projects.

What is a second-life EV battery management system (BMS)?

Also, in November 2024, it was reported that Element Energy, a second-life energy storage and battery management system (BMS) company, commissioned a 53 MWh second-life BESS. The system, which uses 900 EV batteries and was integrated by LG ES Vertech, marked the largest second-life BESS globally at the time.