Lithium iron phosphate (LFP) batteries, provide an efficient, reliable, safe and environmentally-friendly method of renewable energy storage. This particular lithium chemistry is ideal for high power applications and energy projects such as solar energy installations.
What are lithium iron phosphate batteries?
Battery energy storage systems like LFP batteries can help businesses save on utility costs. These battery systems store excess renewable energy for later use as business needs it. Without an energy storage system in place, businesses are forced to buy energy from the grid instead of using their previously generated resources.
Similar to lithium-ion batteries, LFP batteries store energy by moving and storing lithium ions that move between the positive and negative electrode during charge and discharge. Unlike other lithium chemistries, LFP batteries are made with a lithium iron phosphate (LiFePO4) cathode. These materials are non-toxic, which is just one factor that makes LFP batteries an ideal solution for renewable energy storage. Additional benefits of using LFP batteries for in your commercial business are outlined below.
LFP batteries have high power density, meaning that the battery has a long run time despite its small size and weight. In fact, LFP batteries have an energy density that is four times higher than lead-acid batteries. LFP batteries also have 100% capacity available and therefore charge quickly. These factors equip LFP batteries with efficient electrochemical performance.
Unlike its alternatives, LFP batteries can operate in extreme temperatures. Iron phosphate’s sturdy crystal structure also won’t break down during charging and discharging, contributing to its cycle durability and long life-span. When it comes to commercial applications, LFP batteries offer the longest lasting lithium chemistry. LFP batteries can have a cycle durability of 2000 or higher and their life span can be up to twice as long as alternative chemistries. These batteries also require little to no maintenance once installed.
Lithium iron phosphate is thermally and structurally stable meaning that it won’t fluctuate during overcharge or short circuit conditions, or if handled incorrectly. LFP batteries are also incombustible, which makes these particular batteries the safest lithium chemistry to use in your business’s energy projects.
Incorporating LFP batteries for renewable energy storage in your next energy project will help reduce your business’s carbon footprint. LFP batteries contain no toxic or rare earth materials. Unlike other types of lithium batteries, the internal chemicals found within LFP batteries will not degrade over time or cause leakage that harms the environment.
Financing lithium iron phosphate batteries
Since it’s discovery for rechargeable battery application in the 1990’s, lithium iron phosphate chemistry has become increasingly popular, available and affordable. LFP batteries are still not the cheapest option on the market, and they do tend to have higher up-front costs than other battery systems. However, LFP batteries last longer and perform better than their alternatives, saving your business money in the long run. To find out more about how EnergyLink can help you finance an LFP battery, click here.
Interested in lithium iron phosphate batteries?
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