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IIRC, the problem with LFP is temperature sensitivity. Not sure what the workaround for that is in automotive applications.I do think eventually we will migrate to a more stable chemistry like LFP, when the range and charging speed problem is stabilized.
Yes, it's a competitive market but of course these issues weren't present with older, less dense, chemistries. This is very much a lithium-based battery problem and even the FAA has had issues, and subsequently regulations, with lithium batteries.Today we are still trying to outdo each other with more range, faster charging, cheaper battery, etc. When they mature and everyone has about the same range and price per range then they will start addressing the problems like durability, safety, etc. Insurance companies by then will mandate certain safety mechanism like coolant and fire suppressant mechanism, or certain chemistry for safety, or else premium increase.
It's certainly an interesting space to watch, as despite the claims that other techs are emerging, we've seen none of them actually take off yet.
Grid storage isn't in its infancy though, it's been around for at least 70 years. The traditional means of providing large scale grid storage has been pumped hydro, which of course doesn't catch fire, and has much longer duration. Of course there are logistical and geographic issues with PHS. Battery storage isn't new either, previously lead acid and nickel-based chemistries have been used, uneventfully. So it isn't that the tech is in its infancy, its the use of Lithium-based batteries, just like in cars, cell phones, laptops...etc where fires have also occurred. It's an issue inherent to that technology choice, but that choice is made regardless because of the increased density and other benefits that it offers, despite the potential for thermal runaway drawback.Regarding to grid storage fire, yes that happens in our tech's infancy, but if there's money the problem will be solved. Just like we still have a lot of refinery fires today but we don't just shut down refineries, we still have them around knowing sooner or later they will catch fire, but we cannot live without them.
Refineries aren't really comparable, because they take an extremely dense storage medium (oil) and turn it into other extremely dense mediums. They produce a product for consumption that we use for propulsion, power generation...etc. They are a source of energy. A battery is not a source of energy, it's a temporary medium of storage for energy that has to be produced elsewhere and so unlike a refinery, the ROI is much lower on a battery, where money is primarily made through arbitrage.