New report shows lead battery added $26.3 billion to US economy in 2018

New report shows lead battery added $26.3 billion to US economy in 2018

New report shows lead battery added $26.3 billion to US economy in 2018 150 150 Batteries International

October 10, 2019: A report by the independent research group EDR has revealed new data that shows the lead acid battery industry added $26.3 billion to the US economy in 2018.

The Economic Contribution of the US Lead Battery Industry study, by the Economic Development Research Group, says $10.9 billion of that figure was gross domestic product and $2.4 billion was government revenue.

Commissioned by Battery Council International, the study said the industry was responsible for employing 25,000 people directly, and when suppliers were factored in, a total of 92,000.

“In the US it’s very common for trade associations to collect this type of information to use with policymakers — to demonstrate that their industry, in this case lead batteries, is important to the economy,” said BCI director of strategic communications Lisa Dry.

“This is new data for us though it’s the second report we’ve done — the first was released in 2018 and was the first the industry had conducted to our knowledge.

“There is an emphasis on employment in the report because manufacturing jobs in the US are very important as the US is more of a service economy. Manufacturing jobs, especially those in our industry that are higher paying, are viewed as gaining a foothold in the middle class.

“There is too much media attention given to lithium-ion batteries and electrification, so it’s important to demonstrate that the lead battery industry continues to grow and has a sustainable advantage as a perfect example of a circular economy.”

“Whether starting a car, storing power from a solar panel, or providing emergency backup power, lead batteries provide energy for the daily activities of billions of people around the globe,” the report says.

“Indeed, over one billion vehicles rely on lead batteries, including most hybrids and electric vehicles, and over 70% of global rechargeable energy storage needs are met by this technology.”