Feasibility analysis of replacing lithium-ion battery with sodium ion battery

Since the beginning of the 21st century, the global energy crisis has become a pressing issue, prompting researchers to explore more efficient ways of utilizing energy production and storage technologies in our daily lives. In recent years, there have been major improvements in lithium-ion batteries (LIBs) technology, considerably improving living conditions globally. LIBs are currently commonly employed in electric cars. However, the efficient distribution of renewable energy and smart grids raises concerns, along with the long-term availability of lithium resources. The scarcity and rising costs of lithium metal in recent years have been attributed to substantial price fluctuations. Thus, LIBs have made it difficult to meet the increasing demands of both small and medium to large energy storage applications. Due to the readily available properties of sodium metal, it has similar chemical properties to LIBs. To alleviate these challenges, sodium-ion batteries (SIBs) can be used as the finest candidates for power supply. In recent years, different materials such as metal oxides and phosphates have been introduced as positive electrode materials for SIBs. The use of selected carbonaceous materials, transition metal oxides, intermetallic compounds, and organic compounds as negative electrode materials for SIBs has also contributed to recent developments. SIB is a promising next-generation replacement, but there are still some challenges in the market acceptance of SIBs. In this research, we summarize and compare the market application status of SIB and lithium iron phosphate (LFP), and propose the future development trajectory of SIB and LFP according to their respective characteristics. This will provide a unique insight into practical application problems and market realities.