Lithium-ion battery energy storage policy subsidies

Which country imports the most lithium-ion batteries in 2024?

The market research firm also noted, that China, which is the prime hub for big lithium-ion battery makers such as CATL and BYD, accounted for 82.2% of US battery imports in the second quarter of 2024. The U.S. is intensifying efforts to boost domestic battery manufacturing by implementing robust measures to protect its interests.

Which companies are investing in lithium-ion battery recycling?

Another significant investment includes a $200 million grant to Cirba Solutions US Inc., which plans to build a lithium-ion battery recycling facility in Columbia, SC. The plant will recycle batteries from EVs, energy storage systems, and consumer electronics, processing up to 60,000 metric tons per year.

Who is donating $225 million to a battery-grade lithium project?

SWA Lithium LLC, a joint venture of Standard Lithium Ltd. and Norway’s Equinor ASA, is one of the recipients. Their Arkansas-based project aims to produce 45,000 metric tons of battery-grade lithium carbonate per year. The DOE also selected Terravolta Resources LLC for another $225 million grant for a DLE project located in the Texarkana region.

What are the DOE grants for direct lithium extraction?

Among the new projects, the DOE awarded the two largest grants—$225 million each—for direct lithium extraction (DLE) initiatives. These projects will be based in Arkansas and Texas, both part of the Smackover Formation. SWA Lithium LLC, a joint venture of Standard Lithium Ltd. and Norway’s Equinor ASA, is one of the recipients.

Is there a license tax for buying batteries?

Shops that sell, repair, or recharge batteries are subject to a license tax. The tax amounts vary by shop location according to the following rates: Battery manufacturers are subject to a license tax of $100.

Will Dow Chemical Company get $100 million for lithium ion battery electrolytes?

The media agency also noted that DOE intends to grant DOW Chemical Company $100 million to manufacture battery-grade carbonate solvents for lithium-ion battery electrolytes.