Jodie Miller Why forklift battery price is not the true cost of a battery
In modern material handling, lithium-ion and lead-acid forklift batteries are popular choices for powering electric forklifts. When choosing the right forklift battery for your operation, one of the most important features you’ll consider is price.
Typically, the initial cost of lithium-ion forklift batteries is higher than lead-acid types. It seems that lead-acid options are the most cost-effective solutions. However, the true cost of a forklift battery goes much deeper than that. It should be a total of all direct and indirect costs incurred in owning and operating the battery. Therefore, in this blog, we’ll explore the total cost of ownership (TCO) of lithium-ion and lead-acid forklift batteries to help you make an informed decision for your business, offering power solutions that reduce the cost and enhance the profit.
Lithium-ion TCO vs. Lead-acid TCO
There are many hidden costs associated with a forklift battery that often get overlooked, including:
Service Life
Lithium-ion forklift batteries typically offer a cycle life of 2,500 to 3,000 cycles and a design life of 5 to 10 years, whereas lead-acid batteries last for 500 to 1,000 cycles with a design life of 3 to 5 years. Consequently, lithium-ion batteries often have a service life of up to twice as long as lead-acid batteries, significantly reducing the replacement frequency.
Runtime & Charging Time
Lithium-ion forklift batteries run for about 8 hours before needing a charge, while lead-acid batteries last around 6 hours. Lithium-ion batteries charge in one to two hours and can be opportunity charged during shifts and breaks, whereas lead-acid batteries require 8 hours to fully charge.
Moreover, the charging process of lead-acid batteries is more complex. Operators need to drive the forklift to a designated charging room and remove the battery for charging. Lithium-ion batteries only require simple charging steps. Just plug in and charge, without specific space required.
As a result, lithium-ion batteries provide longer runtime and higher efficiency. For companies running multi-shift operations, where fast turnover is critical, choosing lead-acid batteries would require two to three batteries per truck Lithium-ion batteries eliminate this need and save time on battery swapping.
Energy Consumption Costs
Lithium-ion forklift batteries are more energy-efficient than lead-acid batteries, typically converting up to 95% of their energy into useful work compared to about 70% or less for lead-acid batteries. This higher efficiency means they require less electricity to charge, leading to significant savings on utility costs.
Maintenance Cost
Maintenance is a key factor in TCO. Lithium-ion forklift batteries require significantly less upkeep than lead-acid ones, which need regular cleaning, watering, acid neutralization, equalization charging, and cleaning. Businesses require more labor and more time on labor training for proper maintenance. In contrast, lithium-ion batteries need minimal maintenance. This means more uptime for your forklift, boosting productivity and reducing maintenance labor costs.
Safety Issues
Lead-acid forklift batteries require frequent maintenance and have the potential of leaking and out-gassing. When handling batteries, safety risks might occur, resulting in unexpected extended downtime, costly loss of equipment, and personnel injuries. Lithium-ion batteries are much safer.
By considering all these hidden costs, the TCO of lithium-ion forklift batteries is significantly better than that of lead-acid ones. Despite a higher upfront cost, lithium-ion batteries last longer, perform at an extended runtime, consume less energy, require less maintenance, lower labor costs, have fewer safety risks, etc. These advantages lead to a lower TCO and higher ROI (Return on Investment), making them a better investment for modern warehousing and logistics in the long run.
Choose ROYPOW Forklift Battery Solutions to Lower TCO and Increase ROI ROYPOW is a global provider of high-quality, reliable lithium-ion forklift batteries and has become the choice of the global top 10 forklift brands. Forklift fleet businesses can expect more than just the basic advantages of lithium batteries to lower TCO and boost profitability.
For instance, ROYPOW provides a wide range of voltage and capacity options to cover specific power demands. The forklift batteries adopt LiFePO4 battery cells from the global top 3 brands. They have been certified to key international industry safety and performance standards such as UL 2580. Features such as intelligent Battery Management System (BMS), unique built-in fire extinguishing system, and self-developed battery charger enhance efficiency, safety, and reliability. ROYPOW has also developed IP67 forklift batteries for cold storage and explosion-proof forklift batteries to deal with tougher application requirements.
For businesses seeking to replace conventional lead-acid forklift batteries with lithium-ion alternatives to reduce total costs in the long term, ROYPOW offers drop-in-ready solutions by designing the physical dimensions of batteries according to BCI and DIN standards. This ensures proper battery fitment and performance without the need for retrofitting.
Conclusion
Looking forward, as companies increasingly value long-term efficiency and cost-effectiveness, lithium-ion technology, with its lower total cost of ownership, emerges as the smarter investment. By adopting advanced solutions from ROYPOW, businesses can stay competitive in an evolving industry.
Jodie Miller, Managing Partner, ROYPOW
