Additionally, as the technology has continued to evolve to offer greater efficiencies, third-party validation and certification have become the norm through organizations like Underwriters Laboratory that help increase credibility as a trusted approach to energy storage.įinally, lithium-ion battery technology offers businesses complete and unique integration between the lift truck and battery, giving full visibility to operational data elements that include state-of-charge and fault codes to make business-critical decisions in real time. Lithium-ion technology has been proven to work in large-scale applications, providing users with increased efficiency and improved productivity gains compared with traditional energy solutions. From federal, state and local discussions to new infrastructure to material handling facilities looking to update their fleet, this transition is taking place right now. At the federal level, tax credits and other incentives are making the move to lithium-ion battery technology more cost-effective for businesses as they look to meet sustainability objectives and maximize their operating efficiency.Īs battery technology has matured over the past decades, the journey toward electrification has become an everyday conversation across industries. Additionally, government policy and incentives make it an ideal time to invest in lithium-ion technology. In fact, the global lithium-ion battery market size is estimated to grow from $44.2 billion in 2022 to $135.1 billion by 2031. Lithium-ion costs have fallen by 98% in the past 30 years, making now the time to get on board. Also, as alternative energy storage solutions - most notably lithium-ion technology - reach maturity, they offer proven benefits over traditional energy storage methods to boost productivity through longer run-times, faster recharging and little ongoing maintenance, ultimately leading to increased productivity and cost savings. With many federal, state and local incentives to encourage operations to adopt alternative energy, many operations are turning to total power solutions for greater efficiency, superior capacity retention, faster charging, increased run-time and more. Advances in alternative energy technologies and energy policy are now making it an ideal time for warehouse managers to evaluate their energy storage solutions - like lithium-ion batteries - for maximum productivity and sustainability benefits that will set them up for success now and in the future.
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