Bernstein Energy & Power: Taking it to the NaX. Are sodium-ion batteries the key to solar baseload power?

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Bernstein Energy & Power: Taking it to the NaX. Are sodium-ion batteries the key to solar baseload power?

26 June 2026

Bernstein Energy & Power: Taking it to the NaX. Are sodium-ion

batteries the key to solar baseload power?

Neil Beveridge, Ph.D. +852 2123 2648 neil.beveridge@bernsteinsg.com

Nikhil Nigania +91 226 842 1414 nikhil.nigania@bernsteinsg.com

Deepa Venkateswaran, ACA +44 20 7676 6990 deepa.venkateswaran@bernsteinsg.com

Guillaume Delaby +33 1 42 13 62 29 guillaume.delaby@bernsteinsg.com

Bob Brackett, Ph.D. +1 917 344 8422 bob.brackett@bernsteinsg.com

Taking it to the NaX. Are sodium-ion batteries the key to solar the earth’s crust (unlike lithium and cobalt), seems like a smart thing

base load power? to do. The challenge up to now is that making a sodium-ion battery

has been expensive. Not because of the cost of the materials, but

Our recent travels in Europe have highlighted two things. Firstly, because of the complexity of the cathode and anode technology.

how hot and sunny it is. In Germany this month roughly 25% of This changed last year with a rapid reduction in the cost of sodium-

power generation came from solar while in Spain solar share of ion cathodes. While sodium-ion batteries are still as expensive as

power generation reached as high as 70% on June 6th. Secondly, LFP, all indications suggest they will get cheaper as battery makers

client interest in energy storage and particularly sodium-ion scale up production. Robin Zeng, the Chairman of CATL, believes

batteries has been eye-opening. Many will be aware sodium-ion that the cost of sodium-ion batteries will fall to US$50/kWh, which

batteries are the latest technology breakthrough in the battery is lower than the US$80-90/kWh for LFP and almost half the cost

market.