Lead Battery Industry In The U.S. Drives Economic Growth
A study by the Battery Council International reveals that the lead battery industry in the United States provides a large boost to the economy through manufacturing, recycling and mining activity while continuing to be one of the safest and most reliable sources of energy storage.
Highlights from the study include:
- The lead battery industry employs nearly 25K workers and contributes $26.3 billion to the U.S. economy.
- The lead battery industry indirectly affects various industries, including suppliers, worker spending, transportation and distribution, and research and development, which contribute a total of 92,000 jobs and $1.7 billion annually in payroll.
- Lead batteries are used to power nearly 275 million cars and trucks.
- Many modern vehicles utilize start-stop technology; a system that allows cars to temporarily stop their engines, while idling, to conserve fuel. According to the Consortium for Battery Innovation, this technology, which utilizes lead batteries, is eliminating 4.5 million tons of greenhouse gas emissions annually in the U.S.
- Lead batteries have a recycling rate exceeding 99 percent, and are the most recycled consumer-produced products in the U.S. According to the BCI, a new lead battery consists of more than 80 percent recycled material, and nearly 70 percent of its lead comes from recycling from a “closed-loop” industry, making it the most environmentally sustainable of all battery technologies.
Investment in research and development also adds to the lead battery industry’s contribution to economic growth in the U.S. According to the BCI, in 2018 the lead battery industry invested over $100 million into this area, continuing to meet the rapidly changing needs within transportation, renewable energy, communications and other sectors, and has already improved the lifespan of batteries and their ability to store energy.
In total, the BCI study demonstrates how the U.S. lead battery industry annually supports $6 billion in labor income, $10.9 billion in the gross domestic product (GDP), $26.3 billion in overall economic impact, and 2.4 billion in government revenue. These impacts, according to the BCI, represent the lead battery’s total contribution to the national economy. To find out more and read the BCI’s economic impact study, visit the website at www.batterycouncil.org