A life cycle costing of compacted lithium titanium oxide batteries for industrial applications

Nowadays, although the lithium-ion batteries have been widely applied in the context of electric vehicles for passengers, lead-acid batteries are still prevalent in motive-power applications, such as electric pallet jacks and laser guided vehicles. The battery cost is the main disadvantage that limits the employment of lithium-ion solutions in such applications. Several strategies for reducing the battery life cycle cost have been discussed in the scientific literature. The opportunity charging is one of them, even though it is suitable only for batteries having high lifecycles and high charging/discharging rates, such as the Lithium Titanium Oxide ones. This paper aims at assessing a feasible solution to reduce the life cycle cost of the energy storage units for laser guided vehicles. A tool has been proposed to analyze the Total Cost of Ownership of batteries, under the adoption of an opportunity charging strategy. Simulations of energy consumption have also been included, to predict the battery cycles and the operation costs. The life cycle analysis has investigated the use of a compacted Lithium Titanium Oxide battery in comparison with a traditional lead-acid battery. The results have shown the feasibility of the Lithium Titanium Oxide solution and its economic advantage in an industrial context.