How many EV batteries can be recycled in Canada?

Based on yearly new vehicle registrations of EVs in Canada since 2011, and assuming a 12-year lifespan within a vehicle and a 10-year secondary use lifespan, there will be at least 93,000 EV batteries that require recycling by 2040, with a further 500,000 ready between 2040 and 2045.

What is Canada doing with the battery industry?

The prevalence of batteries from portable electronics and electric vehicles has inspired Canadian companies, such as Li-Cycle and Lithion, to develop processes and facilities to handle this waste stream. These technologies are already being exported, giving Canada a foothold in the massive opportunity that is emerging within this market.

How will Canada's energy-storage system change over time?

In Canada and around the world, energy-storage systems using lithium-ion batteries are getting bigger and more impressive. So are recycling processes. Recycling costs will continue to decrease as the recycling process improves and the supply of these valuable materials increases. The shift to sustainable forms of energy is a global movement.

Can lithium ion batteries be recycled?

Approximately 95 percent of a lithium-ion battery can be recycled into new batteries. In fact, the metals used in lithium-ion applications, such as lithium, nickel, and cobalt, hold their value beyond the life of the battery, allowing recycling facilities to reclaim these materials.

Are lithium-ion energy storage systems a good investment in Canada?

Current lithium-ion grid storage capacity is below 100 MW in Canada, but with battery pack prices dropping quickly (89% since 2010, and counting), growth is expected to accelerate dramatically. One great thing about lithium-ion energy-storage systems is that they are long-lived.

What is a battery energy storage system?

A battery energy-storage system consists of several additional components, such as housing units, air conditioning components, concrete pads, electrical controls and wiring. Like the batteries themselves, these components have well-established recycling pathways. Lithium-ion batteries are also used in sectors other than renewable energy.