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A common concern about EVs is what happens to that large battery pack once it can no longer deliver adequate range for the EV after 8-12 years of use. Fortunately, for many EV batteries, they can have a second useful life in stationary energy storage. A new blog by the Union of Concerned Scientists talks more about this second life and provides more detail around the residual value of a degraded EV battery that may have another 5-8 years of useful life in an energy storage capacity.
As industry gains more experience with this concept, it will be able to more accurately forecast the value of these second life batteries. This could potentially impact the cost of batteries when new if a large enough market exists for the batteries at the end of their first life.
Give the article a read!