Techno-Economic Analysis of the Business Potential of Recycling Lithium-ion Batteries Using Hydrometallurgical Methods
Keywords:
Lithium-ion battery;, recycling technology;, electric vehicle;, hydrometallurgy;, pyrometallurgyAbstract
Indonesia's commitment to achieving net zero emissions by 2060 is driving the government to implement short-term policies aimed at promoting energy efficiency, renewable resources in the electricity sector, and the electrification of transportation. The logical consequence of this transportation electrification policy is the increased use of energy storage media, including lithium-ion batteries. The installed capacity of lithium-ion batteries is predicted to continuously rise with a CAGR of 25.45%, reaching 10.5 TWh by 2030, of which 8.1 TWh will be installed in electric vehicles, according to Circular Energy Storage. The potential for lithium-ion battery waste to be processed in Indonesia is estimated to reach 250,000 tons by 2030, increasing further due to policies encouraging the domestic use of electric vehicles. This policy is expected to necessitate 0.2 million tons of cobalt and 1.3 million tons of nickel by 2040. The lack of domestic lithium resources is also a driving factor for developing a recycling industry to ensure the sustainability of the electric vehicle industry. A case study calculating the recycling potential from lithium-ion battery-powered devices sold in Indonesia in 2022 indicates a circular economic opportunity of US$ 49,767,416 and a reduction in emissions of 7,472 tons of CO2. This underscores the importance of involving the recycling industry in designing policies to support the transition to net zero emissions.
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Copyright (c) 2023 Dwi Rizky Rachmadhani, Bambang Priyono
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