How big is the gap between lithium batteries and lead batteries? According to a 2021 report by the International Energy Agency (IEA), the average price of a metric ton of battery-grade lithium carbonate will be $17,000 in 2021, while the average price of lead in the North American market is $2,425, with the raw material now accounting for more than half of battery costs . The imbalance in recycling is counterintuitive, as is the supply of new materials. According to a recent report by the U.S. Geological Survey, the global supply of lithium is 89 million tons, with the vast majority coming from South America. In comparison, the global supply of lead is 2 billion tons, 22 times more than lithium. A study published earlier this year in the Journal of the Indian Academy of Sciences found that despite the low availability of lithium, less than 1% of lithium-ion batteries are recycled in the US and EU, compared with lead-acid batteries. The rate is 99%, and this type of battery is most commonly used in gasoline-powered vehicles and power grids. According to the study, there are many difficulties in recycling, from evolving battery technology to costly transportation of hazardous materials to poor government regulation.
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