With the economic situation South Africa finds itself in, it may seem that the country would still have a long way to go towards expanding its lithium-ion market. Lithium-ion batteries are known as one of the most expensive batteries available, and yet they continue to become increasingly more popular as time goes on.
There are several reasons why this is the case. Firstly, South Africa finds itself with a uniquely challenging electrification problem. Amidst the growing struggles of Eskom, consumers and businesses need to find workable and reliable solutions to the electricity crisis so that they can continue with business and daily life.
With the growing push towards renewables from the international community, South Africa will also find itself having to keep up with global trends. The entire economic landscape is expected to change as global private sectors and governments undergo energy reforms and international climate agreements come into effect. So, while it is unclear to what extent this shift will affect developing economies, it is reasonable to assume that South Africa, as one of Africa’s largest economies, will still have a significant role to play in this.
Lithium-ion batteries are widely recognised as one of the most reliable battery technologies for several different uses. They have several advantages over other battery technologies such as lead-acid, making them the smarter investment over the long-term.
Because of this, they are ideally suited to back-up and energy storage installations for homes and businesses. As local players in the market open up even more avenues for increasingly innovative and cost-effective solutions in this technology, lithium-ion will become the battery technology of choice for energy storage in alternative power solutions.