The traditional cable-based charging method for electric vehicles is now being supplemented by a new solution: battery swapping. Various swap-enabled vehicles from various segments are currently available on the market.
By 2021, 8 percent of all Chinese electric vehicles would be swappable. They all share one thing in common: a battery pack that is rechargeable, removable, and upgradeable. Unlike fixed-battery EVs, swappable-battery vehicles can acquire a completely charged battery in as little as 3-5 minutes. “Battery Swapping for Electric Vehicles 2022-2032: Technology, Players, and Forecasts,” new research from IDTechEx, analyses the present market scenario for battery swapping in cars, 2- and 3-wheelers, as well as commercial heavy-duty vehicles. The report includes an analysis of the mechanical components used in swap stations by market giants like Aulton and Nio, as well as some rising companies like Ample and Power Swap.
There’s a lot to love about changing batteries. For starters, it reverts the traditional time tradeoff between electric vehicles and gasoline-powered automobiles. Many EV owners charge their vehicles overnight. Fast chargers now can charge a battery to about 80% capacity in just under half an hour. However, some battery swap facilities could charge dozens of automobiles to 100 percent in that time. It needs no user intervention in the case of vehicles, buses and trucks, so that the driver may sit comfortably within their EV and not bother about handling heavy cables. The degradation linked with DC fast charging is also eliminated by centrally flowing charging the batteries within a swap station. Along the swapping value chain, the IDTechEx research highlights the new prospects for utilities, battery-pack makers, car OEMs, and battery recycling organizations.
BaaS (Battery as a Service) is the latest buzzword to emerge from the EV craze and the fate of battery technology. This is made possible by battery swapping, which separates the battery cost from the cost of the car. The company providing the battery swapping service is responsible for the battery’s upkeep, health, and cost, while EV consumers just pay for the utilization based on their needs. A cost comparison of switching to AC/DC charging, a TCO (total cost of ownership) analysis, and a complete profitability evaluation for this alternative business model are all included in the research.
When power is cheap or demand is low, empty batteries can be charged. When supplies are scarce and prices are high, whoever owns those batteries can sell the electricity to drivers at a premium or perhaps even be able to sell it back into the system. Integrating renewable energy assists balance supply and demand by allowing banks of batteries to absorb up excess energy and return it during peak hours. A developing network of swap stations, according to new IDTechEx research, maybe one of the most cost-effective solutions to build up the huge stationary energy storage required to support the world’s growing renewable energy supplies.