A Melbourne start-up is repurposing used batteries from electric vehicles for solar home battery storage.
The business also plans to develop and commercialise control technologies to optimise the use of lithium-ion vehicle batteries.
The Clean Energy Innovation Fund is supporting the project with a $750,000 equity investment. The Innovation Fund uses Clean Energy Finance Corporation finance to invest in innovative clean energy companies and projects.
Recycled batteries will be repurposed into 12V batteries, also home battery systems and grid-scale storage.
Battery use in commercial and household storage systems
Batteries are now a “fundamental building block” of the new energy industry, according to the start-up. Consequently, significant uptake is occurring across households and businesses.
Relectrify CEO and Co-founder Valentin Muenzel said there is an immense need for affordable and capable storage across almost all parts of our lives now and in the future.
Even when electric vehicle batteries can no longer offer the range and acceleration required for road use, they are still viable, Mr Muenzel added.
Still retaining up to 80 per cent storage capacity, they can be charged and discharged 2,000 times more.
The new technology reduces repurposing costs, boosts performance and increases longevity.
Battery storage is key to meet future energy needs
The uses and importance of home batteries are growing quickly.
According to CEFC CEO Ian Learmonth, industry experts say they could be capable of storing around 15 GW hours by 2035.
This is enough stored electricity to power South Australia’s peak summer demand for around five hours, Mr Learmonth says.
In addition, while electric vehicles only amount to 0.2 per cent of total vehicle sales in Australia, by 2035 they will make up around one quarter.
This will produce a ready supply of used batteries which can be repurposed for home solar power.
Mr Learmonth says technology like this also offers high-performance solar home battery storage solutions which are also reliable and cost-effective.
It will therefore assist in transitioning to a clean energy system, as well as reducing environmental impacts.