The manuscript reviews the research on economic and environmental benefits of second-life electric vehicle batteries (EVBs) use for energy storage in households, utilities, and EV charging stations. Economic benefits depend heavily on electricity costs, battery costs, and battery performance; carbon benefits depend largely on the electricity mix charging the batteries. Environmental performance is greatest when used to store renewable energy such as wind and solar power. Inconsistent system boundaries make it challenging to compare the life cycle carbon footprint across different studies. The future growth of second-life EVB utilization faces several challenges, including the chemical and electrical properties and states of health of retired EVBs, the rapidly decreasing costs of new batteries, and different operational requirements. Measures to mitigate these challenges include the development of efficient diagnostic technologies, comprehensive test standards, and battery designs suitable for remanufacturing. Further research is needed based on real-world operational data and harmonized approaches.
Keywords: Economics; Electrochemical energy storage; Energy sustainability; Environmental analysis.
© 2023 The Authors.