Total cost of ownership in the context of "Rechargeable batteries"

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Total cost of ownership in the context of Rechargeable battery

A rechargeable battery, storage battery, or secondary cell (formally a type of energy accumulator) is a type of electric battery which can be charged, discharged into a load, and recharged many times, as opposed to a disposable or primary battery, which is supplied fully charged and discarded after use. It is composed of one or more electrochemical cells. The term "accumulator" is used as it accumulates and stores energy through a reversible electrochemical reaction. Rechargeable batteries are produced in many different shapes and sizes, ranging from button cells to megawatt systems connected to stabilize an electrical distribution network. Several different combinations of electrode materials and electrolytes are used, including lead–acid, zinc–air, nickel–cadmium (NiCd), nickel–metal hydride (NiMH), lithium-ion (Li-ion), lithium iron phosphate (LiFePO4), and lithium-ion polymer (Li-ion polymer).

Rechargeable batteries typically initially cost more than disposable batteries but have a much lower total cost of ownership and environmental impact, as they can be recharged inexpensively many times before they need replacing. Some rechargeable battery types are available in the same sizes and voltages as disposable types, and can be used interchangeably with them. Billions of dollars in research are being invested around the world for improving batteries as industry focuses on building better batteries.

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Total cost of ownership in the context of Whole-life cost

Whole-life cost is the total cost of ownership over the life of an asset. The concept is also known as life-cycle cost (LCC) or lifetime cost, and is commonly referred to as "cradle to grave" or "womb to tomb" costs. Costs considered include the financial cost which is relatively simple to calculate and also the environmental and social costs which are more difficult to quantify and assign numerical values. Typical areas of expenditure which are included in calculating the whole-life cost include planning, design, construction and acquisition, operations, maintenance, renewal and rehabilitation, depreciation and cost of finance and replacement or disposal.

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