Understanding the benefits and drawbacks of lithium batteries in terms of price, scientific improvements, environmental impact, and user friendliness is crucial as these batteries grow more and more common, whether they are found in our smartphones, computers, or even our cars.

However, in order to more clearly outline the various benefits and drawbacks, it is crucial to provide a quick refresher of what a lithium battery is. Lithium ions often migrate from the anode to the cathode and combine with their electrons there. This process occurs while the electrolyte, which is frequently liquid, is still liquid. They would neutralize their own electrical charge there. 

Financial

Pros: However, lithium batteries are arguably some of the least expensive batteries on the market. This is because the batteries have a high energy density that is roughly equivalent to two to three times that of nickel-cadmium batteries and up to four times that of lead-acid batteries. These batteries are also recognized for having extended lifespans. In actuality, lithium batteries store about 150 watt-hours (WH) of energy per kilogram (kg), or 150WH/kg, according to the American Chemical Society. Lead acid batteries and nickel metal hydride batteries, in contrast, only have 60–70WH/kg and 25WH/kg of energy density, respectively. This implies that a lithium battery half the size of a nickel-based battery may produce at least the same amount of power, making lithium batteries lighter, more portable, and more effective.

Cons: However, due to lithium's scarcity, these benefits do come with price tags that are 40% higher than those of typical nickel-based batteries. 

Technological

Pros: In addition to having a longer lifespan and higher efficiency than other batteries, lithium batteries also have a higher overall charge per unit mass and unit volume. According to the Clean Energy Institute, lithium-ion batteries can deliver three times as many volts as nickel-based batteries at a voltage of about 3.6 volts.

Furthermore, lithium batteries have a lower discharge rate than nickel-based batteries since they lose only 5% of their charge per month as opposed to 20% for nickel-based batteries. The memory effect, which occurs when batteries repeatedly undergo partial discharges and charges and "remember" to store electricity at reduced capacities, does not affect lithium batteries.

Additionally, compared to most other batteries, lithium-ion batteries have a more effective chemical process. Each lithium ion does not need to go all the way from the anode to the cathode in order to complete the circuit, according to the Australian Academy of Science, because ions already existing in the electrolyte close to the electrode can be readily absorbed into the cathode.

Cons: The downside to this is that lithium batteries need safety features like internal pressures and voltage limiters, which could reduce performance and add weight. Not to mention that after a given number of years, these batteries are known to malfunction. 

Environmental

Pros: The fact that lithium batteries don't contain the hazardous element cadmium that many nickel-based batteries do has a huge impact on lithium batteries' environmental impact. Lithium battery disposal should therefore be simpler. Throughout the course of their lifespans, lithium batteries can support, if not act as an ecologically friendly technology, such as an electric car's power source or a solar panel's energy storage system. They are ideal for various tasks due to their high energy density, relative light weight, and compactness. 

Cons: According to Alpine Power Systems, lithium batteries are more difficult to recycle than lead-acid batteries, but being easier to dispose of than nickel-based batteries. In order to do this, the US Occupational Safety and Health Administration has even established special guidelines for the recycling of lithium batteries. Additionally, 99% of lead-acid batteries still have value at the end of their lifespan and may be recycled. Lithium batteries, however, essentially have no market value. In actuality, recycling lithium batteries may incur extra expenses.

User-Friendliness

Pros: Last but not least, lithium batteries are more user-friendly than their counterparts because they don't require regular maintenance like battery watering, equalization, cool-down times, or acid changes. As a result, they almost need no maintenance, which means specialized employees are not required to maintain these lithium batteries.

Cons: However, lithium batteries need to be monitored more closely. This is done in preparation for any potential harm that could result from the relatively intricate chemical processes that go on inside the batteries. While most people aren't directly concerned with these processes or have to keep track of them constantly, they do cause some thermal instability in lithium batteries. The cobalt oxide cathodes have the ability to disintegrate whereas the anodes have the capacity to overheat at high temperatures (meaning that oxygen can be produced). These elements, along with the electrolyte solution's flammability, increase the likelihood of a fire starting. There are consequently problems with shipping lithium ion batteries. In fact, the US Department of Transportation has made it illegal for the majority of carriers to ship lithium batteries in bulk and has established detailed regulations for shipping these batteries by airplane. International Air Transport Association agrees, too. Therefore, additional packing specifications are also necessary. 

In the end, lithium batteries, as previously demonstrated, provide a number of benefits that have made them a staple in contemporary and commonplace technologies. As with any technological advancement, there are certain downsides, but none are arguably so severe as to require the abandonment of these batteries. However, beyond the aforementioned applications, lithium batteries may soon find new usage. The third and final installment in a three-part series on batteries will therefore go into deeper detail on this subject.

Reference

https://2nsystems.com/pros-cons-lithium-ion-batteries-ups-systems/