Financing opportunities battery second life
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Financing Opportunities: Battery Second Life. Adam Langton CPUC Energy Division. Challenge for PEV Adoption. PEVs face a ~10K Price Premium…. …and face twice the depreciation rate of ICE cars. Year 1. Year 3. A Mature Secondary Market for Used PEV Batteries could….

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Financing opportunities battery second life

Financing Opportunities:Battery Second Life

Adam Langton

CPUC Energy Division


Challenge for pev adoption

Challenge for PEV Adoption

PEVs face a ~10K

Price Premium…

…and face twice the depreciation rate of ICE cars.

Year 1

Year 3


A mature secondary market for used pev batteries could

A Mature Secondary Market for Used PEV Batteries could….

  • Improve re-sale value of vehicles for existing owners

  • Avoid landfilling vehicle batteries, here or elsewhere

  • Help meet State’s storage mandate


Utilities can facilitate battery second life financing

Utilities Can Facilitate Battery Second Life Financing

Long-term grid services contract

(lease or buy)

Upfront payment

(lease or buy)

Utility

Transaction

/Finance Entity

Customer

Used vehicle

battery

(lease or buy)

Grid Values

from Used Vehicle Batteries

  • Variations on the basic financing model involve changing one of three key variables:

  • Vehicle acquisition form (purchase or lease)

  • Level of battery modularity (cells or battery packs)

  • Entity that facilitates the transactions (utility, third party, or exclusive licensee)


Risks and unknowns

Risks and Unknowns

  • Uncertain grid performance of half-used vehicle batteries

    • Specific to each battery type

    • Can be measured and assigned by financing entity

  • Future Battery Costs

    • Expected to decrease

    • Utilities face similar risks for any investment

  • Is grid storage the best application

    • Re-use in other vehicle applications might be higher value


Possible next steps

Possible Next Steps

  • Continue Pilots, similar to the PG&E pilot, to engage stakeholders and explore contracting methodologies

  • Partner with private entities with storage needs (data centers, hospitals, etc.) to aggregate demand

  • Target fleet vehicles to minimize performance risks and encourage fleet adoption

  • Evaluate the full supply chain benefits to capture additional positive externalities


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