Should you sell or buy old Lithium-ion batteries?

With the average battery only set to last eight years, some of those 2017 batteries could need to be replaced and disposed of by 2025. Battery users tend to substitute their expired batteries after aging, overuse, or overcharging occurs. Once this happens, the process to sell or buy scrap lithium-ion batteries becomes significant.

Can you recycle lithium ion batteries?

Recyclers sell or buy scrap lithium-ion batteries after aging, overuse, or overcharging occurs in batteries. Scrap lithium-ion batteries have a potential recycling value that can turn waste into profit. The market for recycling lithium-ion batteries alone could be worth $18 billion annually by 2030, Statista estimates, up from $1.5 billion in 2019.

Why are lithium-ion batteries so expensive?

Lithium-ion batteries are costly to produce and this is because of the high material cost and complex preparation processes. Therefore, obsolete, or spent lithium-ion batteries can have a positive impact on the economy and environment when transported to a recycling center.

Why did lithium-ion battery prices drop 20% from 2023?

Lithium-ion battery pack prices dropped 20% from 2023 to a record low of $115 per kilowatt-hour, according to analysis by research provider BloombergNEF (BNEF). Factors driving the decline include cell manufacturing overcapacity, economies of scale, low metal and component prices, adoption of lower-cost lithium-...

What is the demand for lithium-ion batteries in 2024?

That is more than 2.5 times annual demand for lithium-ion batteries in 2024, according to BNEF. While demand across all sectors saw year-on-year growth, the EV market – the biggest demand driver for batteries – grew more slowly than in recent years.

Does Interco recycle lithium ion batteries?

Interco has the capability to sell and buy scrap lithium-ion batteries for recycling purposes. Therefore, recycling allows for the recovery of rich metals and reduces the harmful effects on the environment that improper disposal causes. Furthermore, the team at Interco accepts, processes, trades, and recycles an array of nonferrous metals.