The course content is related to the corporate social responsibility, thus please write the essay base on the sustainability issue.
Develop a research question or argument, support your argument with research, and provide a conclusion. (Hint: use your own specific major such as accounting, marketing, HR, management, etc. to guide your paper.) You need to show the use of Course-related content and materials which will be evidenced by appropriate in-text citations and references. You also need to use the lens of your specific major such as accounting, marketing, HR, management, sociology, psychology, etc. (this will be evidenced by using the first person in the essay and discussing how your major field of study influences or is influenced by the theme of your paper).
Answers
Second-Life EV Batteries: The Newest Value Pool in Energy Storage
Abstract
States in the United States and countries around the world have increased their use of renewable energy to solve the challenge of carbon emissions. However, they face a problem in the use of clean energy sources due to the insufficient means to store the energy during the low demand period and save it for high demand and low supply times. Second-life EV batteries are the most viable solution to the problem of storing renewable energy since they still have 80% of the original energy capacity by the time vehicles stop using them. Although the sufficiency of the Second-life EV batteries is questionable, they are the best and most sustainable solution to capitalize on the use of renewable energy from wind and sun. Managers should understand the benefits of Second-life EV batteries in the storage of renewable energy, which is twofold: promoting the use of clean energy and ensuring sustainability through proper recycling and reuse instead of disposal.
Keywords: Second-life EV batteries, Value Pool, Renewable Energy, Energy Storage
Second-Life EV Batteries: The Newest Value Pool in Energy Storage
Various states in the US and countries around the world are in the process of a surge in the generation and use of renewable energy to overcome the detrimental effects of fossil fuel on the environment. The sun and wind are critical sources of renewable energy that promises to change the energy sector in the future. However, the states still expect long-term environmental and economic issues depending on the intermittent resources devoid of effective energy storage means, such as pumped hydro facilities, compressed air, and batteries. The states have numerous options, but the most effective is a large-scale energy storage technology with the capability of capturing sufficient surplus renewable energy when the demand is low. The batteries can hold as much energy as possible to ensure availability in the future. The stored energy would come in handy to decarbonize the supply of energy in the future. Second-life EV batteries are suggested as the most critical – and inexpensive – solution to the energy storage solution. Although the sufficiency of the Second-life EV batteries is questionable, they remain the best sustainable solution to capitalize on the use of renewable energy from wind and sun in the country.
The use of electric vehicles is becoming a norm in the United States and around the world. Companies manufacturing such vehicles are using Li-ion batteries for powering electric vehicles, which has an eight or ten years’ warranty, which means that they result in a large number of second-life EV batteries that are no longer useful. The batteries are unsuitable for traction services even though they can still be used since they still have 80% of the original energy capacity (Casals, García, & Canal, 2019). While they might no longer be used for transportation, the Li-ion batteries can be useful as energy storage devices and play a key role in the energy sector. They can be effectively recycled for reuse to address the challenge of a lack of sufficient renewable energy to meet the current demand in the market. It would be useful to give the batteries a second life while contributing to sustainability in the energy sector.
The market for electric vehicles in the US has been increasing over the years as customers become environmentally conscious and struggle to reduce the level of carbon emissions that contribute to global warming. According to Elkind (2014), the sales of vehicles in the country were heading to a quarter million in 2014 and continued to increase. As a result, it was expected that thousands of batteries would come out of the cars in the coming years and provide a considerably high capacity for the storage of renewable energy for future consumption. For example, if 50 % of the battery packs that are currently in use are recycled for energy storage with 75% of the original capacity, they will be capable of storing and dispatching up to 850 megawatt-hours of electricity (Elkind, 2014). A megawatt hour is approximately what 330 homes used over an hour. Therefore, the batteries will provide an effective solution for the storage and use of renewable energy in the US.
Evidence from the research reveals the usefulness of Li-ion second-life EV batteries in the storage of energy for future use. Casals, García, and Canal (2019) analyzed the useful life of the batteries using diverse stationary applications. They tested the usefulness in supporting “fast electric vehicle charges, self-consumption, area regulation, and transmission deferral” (p. 354). The results of their analysis revealed that the batteries are still useful even after years of traction and can help to store electricity for future consumption. Besides, the lifespan of the second life battery is dependent on the usage and can go up to approximately 30 years in fast electric vehicles. After their uses in the vehicle systems, they can still be used in regulation grid services for another six years. According to Knowles and Morris (2014), buffer packs from the batteries can increase the rate of use of renewable energy because of the availability of storage. The batteries provide a viable solution to the problem of electricity shortage because they remain usable even after their usefulness in cars end.
Second-life EV batteries are Li-ion batteries, which means they are considerably expensive to acquire for use in the energy sector. The generation and storage of electricity from renewable sources using new Li-ion batteries could be unsustainable and discourage the process due to the high cost. Therefore, the Second-life EV batteries are providing an economically feasible solution to the problem of dependence on non-renewable energy by allowing inexpensive generation and storage of renewable energy (Casals, García, & Canal, 2019). The idea is the reuse of affordable second-life electric vehicle batteries instead of purchasing new ones, which would be too costly. The recycling and reuse of the batteries is an effective path towards sustainability in the energy market (Kamath, Arsenault, Kim, & Anctil, 2020). However, players in the industry should remember that the cleanliness of the energy depends on the source of energy and the generation process. Regardless of the caution, the batteries will address a major challenge in the energy sector and promote the use of renewable energy.
The storage of energy can help to address issues associated with shortage and the usage of unclean energy sources, as well as reduce peak consumption of power from the electricity grid. Thus, fast-charging electric vehicles (EVs) provides affordable means to store the energy and reduce consumption for the future, especially of the demand changes. The storage solution can also be useful in regions where grid limitations are evident and could negatively affect the availability of power. Second-life EV batteries will deal with the need for fast-charging infrastructures and end-of-life EV batteries’ management. Kamath, Arsenault, Kim, and Anctil (2020) compared the fast-charging configuration of the electric grid to Li-ion second life-based configurations to establish the economic viability of the solution. They used life cycle environmental impact and economic cost to determine whether the Second-life EV batteries are a viable solution to the storage of electricity for future consumption. Their study revealed that the levelized cost of electricity of the second-life battery-based configurations had a considerably high sensitivity to second-life battery cost, efficiency, lifetime, and discount rate. Therefore, second-life EV batteries are economically and environmentally feasible storage of energy for future consumption when the demand is high than the supply.
The use of Second-life EV batteries for the storage of energy for future consumption is beneficial in two ways. First, the batteries will solve the challenge of using fossil fuel since they will ensure that renewable energy is sufficient. The second solution is the protection of the environment from the disposal of the batteries once they are no longer in use. Many waste products, including the Second-life EV batteries, cause serious damage to the environment if not disposed of correctly. Thus, the use of batteries to store energy will support their recycling and reuse. Bonu and Panigrahi (2019) developed a strategic network model for the collection and recycling of such batteries to prevent their damage to the environment and achieve sustainability outcomes. Environmentally proper recycling of used batteries is critical in the process of reducing the level of damage to the environment from materials, such as lithium-ion contained in the products. It also involves giving them a second life while supporting energy sufficiency in the country.
The use of Second-life EV batteries for the storage of energy is sustainable to the environment because of the low emissions from their use. Notably, the current use of the batteries is for the storage of renewable clean energy from wind or sun, which means that it causes minimal damage to the environment. Casals, García, and Canal (2019) analyzed the day-to-day emissions from the generation of clean electricity to determine the sustainability potential of the Second-life EV batteries for the storage to learn energy. The study revealed that the grid-based energy storage applications might not provide environmental sustainability advantages soon. Nonetheless, the applications that are based on renewable power sources, such as the use of the second-life EV batteries will reduce the level of current emissions and support sustainable development in all countries around the world. Therefore, the batteries provide a feasible solution to the problem of carbon emissions and climate change.
More evidence continues to support the viability and sustainability of repurposing retired electric vehicle (EV) batteries in the storage of renewable energy from wind and sun. Jiao and Evans (2016) support the use of the batteries in reducing the first-cost hurdle of EVs. Since they are integrated into energy storage systems to support the conservation of renewable energy, they improve the sustainability of the generation and use of renewable energy. Other benefits include the cleanliness of charging sources and, at the same time eliminating environmental issues over end-of-life battery disposing of the batteries. Various business models are useful in addressing the use of the batteries from the EV stakeholders’ perspective, but the majority supports the use of the batteries in the storage of energy for future use instead of disposing of them after their first life (White, Thompson, & Swan, 2020). Their use can also support business model innovation for sustainable development in the electric vehicle and energy industries. Li-ion battery reuse is changing the way manufacturers are generating and consuming energy in the modern era, where demands of sustainability have increased from numerous stakeholders, such as consumers and the government.
Evidently, states and the entire US can benefit from the use of Second-life EV batteries in the storage of renewable energy produced currently and save it for future use. However, the challenge is that the batteries’ supply is lower than the demand. Electric cars’ production is underway, which means that the available vehicles have not generated a sufficient quantity of the batteries to support the current demand for energy storage (Elkind, 2014). The supply might increase in the future as more electric vehicles are manufactured and used. However, the states and country can capitalize on the available Second-life EV batteries by creating programs for effective collection and recycling of the batteries (Bonu & Panigrahi, 2019). Such as project will ensure that minimal batteries are disposed of wrongly and that they disposed only of those that cannot be recycled. The program will address the challenge of renewable energy storage in an attempt to achieve sustainability in the energy sector and address the climate change issue.
In the management field, the knowledge of the feasibility of the Second-life EV batteries in the storage of energy is critical and could be useful in numerous perspectives. As a major in the field, I could work in any organization and sector, such as those generating or those using renewable energy sources. Sustainable management is at the core of success in all organizations as they strive to develop and operate sustainably. Besides, managers are experiencing demands from different stakeholders, such as clients and the government, to use a sustainable business model. Therefore, I should understand the means through which I can achieve the sustainability goals, such as reducing the carbon footprint in my organization. I can achieve the goal through the use of energy stored in second-life EV batteries since it is renewable and clean. As a result, I will contribute towards protecting the environment against further damage from carbon emissions.
Besides, as a management major, I should understand the importance and different ways through which I can recycle and use various products to protect the environment. For example, I could get employed in a company that manufactures electric vehicle and have the responsibility of disposing of the batteries after use. I should learn the ways through which they can be recycled and reused to protect the environment. I could also have an electric car for personal and business use. Therefore, my understanding of the uses of the batteries in the storage of energy is beneficial from numerous perspectives as I pursue the management major. It will help me to contribute to sustainability and corporate responsibility in many ways by conserving energy, using clean sources, and properly disposing of products at the end of their lifecycle. The theme of the study influenced and influenced me as a management major student.
Conclusion
The modern world experiences considerable challenges associated with the generation and consumption of green energy to reduce the dependence on the harmful non-renewable energy sources. As a result, many states across the US and countries around the world engage in concerted attempts to generate sufficient renewable energy from the sun and wind. However, they experience the challenge of storing energy during the period of high generation and low consumption to save for future use. Although the Second-life EV batteries are insufficient for the high amount of energy, they remain the most effective and sustainable solution to the problem. The use of Second-life EV batteries solves the problem and provides a two-fold solution. They will ensure that states have an adequate supply of renewable energy by saving it for future use and also protect the environment from detrimental disposal of the batteries once they are no longer in use. Therefore, states and countries should develop effective programs for the collection and recycling of Second-life EV batteries to have adequate storage of renewable energy for supply in the future.
References
Bonu, S. R., & Panigrahi, D. S. (2019, December). Recollection and Recycling of Automotive Lithium Ion Batteries in India. In 2019 IEEE Transportation Electrification Conference (ITEC-India) (pp. 1-5). IEEE.
Casals, L. C., García, B. A., & Canal, C. (2019). Second life batteries lifespan: Rest of useful life and environmental analysis. Journal of Environmental Management, 232, 354-363.
Elkind, E. (2014). Reuse and Repower: How to save money and clean the grid with second-life electric vehicle batteries. Retrieved from https://escholarship.org/uc/item/32s208mv
Jiao, N., & Evans, S. (2016). Business models for sustainability: the case of second-life electric vehicle batteries. Procedia Cirp, 40, 250-255.
Kamath, D., Arsenault, R., Kim, H. C., & Anctil, A. (2020). Economic and Environmental Feasibility of Second-Life Lithium-Ion Batteries as Fast-Charging Energy Storage. Environmental Science & Technology, 54(11), 6878-6887.
Knowles, M., & Morris, A. (2014). The impact of second life electric vehicle batteries on the viability of renewable energy sources. British Journal of Applied Science and Technology, 4(1), 152-167.
White, C., Thompson, B., & Swan, L. G. (2020). Repurposed electric vehicle battery performance in second-life electricity grid frequency regulation service. Journal of Energy Storage, 28, 101278.