Electric forklift are now the main choice for material handling in many warehouses and factories, which ensures high efficiency in material handling. However, choosing the right forklift battery be challenging, which is directly related to the forklift’s performance, operational efficiency and overall cost.
The forklift battery price and cost are often a major concern. The initial purchase price may catch your eye at first impression, but in the long run, the cost of use is an even more important part of the equation, and the cost of charging accounts for a large portion of that. Understanding forklift battery charging costs and how to calculate, can help you better choose your best forklift battery.
What Factors Affect Forklift Battery Charging Cost?
Battery Parameters
- Capacity (Ah/kWh): The larger the battery capacity, the more electricity it means to be fully charged, which corresponds to a higher charging cost.
- Battery type: Different types of batteries, such as lead-acid batteries, lithium-ion batteries, and lithium iron phosphate (LiFePO4) batteries, have different energy densities, charging efficiencies, and lifespans, which affect charging costs.
- Charging efficiency: During the charging process, due to energy loss (mainly in the form of heat loss), the actual power consumed will be higher than the energy stored in the battery. An efficient charging system can reduce this loss, thus lowering the actual cost per charge.
Charging Equipment
Chargers play a key role in the charging process of forklift batteries, and their performance and charging strategy directly affect charging efficiency, power loss and battery life, thus indirectly determining the overall charging cost.
An efficient and intelligent forklift charger can significantly improve conversion efficiency and reduce energy loss, which not only shortens charging time but also provides forklift efficiency. In addition, a charger with BMS function can prevent the battery from overcharging and overheating, prolonging its life and reducing maintenance and replacement costs in the long run.
Electricity and Energy Costs
The cost of electricity is an important factor that directly affects the cost of charging, which varies from region to region or from time to time (e.g. peak and valley tariffs). By utilizing off-peak hours for charging, the cost of electricity can be reduced to a certain extent. The following is a list of electricity prices in some countries or regions as a reference.
| Country/Region | Residential | Industrial | Peak-Valley Spread |
|---|---|---|---|
| China | $ 0.08 | $ 0.09–0.12 | Up to $ 0.25 (Shanghai) |
| United States | $ 0.13 | $ 0.06–0.09 | $ 0.05–0.12 |
| Japan | $ 0.17–0.21 | $ 0.12–0.15 | $ 0.07–0.11 |
| Australia | $ 0.21–0.28 | $ 0.12–0.17 | $ 0.08–0.17 |
| France | $ 0.12–0.14 | $ 0.08–0.11 | $ 0.04–0.06 |
| South Africa | $ 0.18 | $ 0.06 | $ 0.25 |
| Nigeria | $ 0.02–0.06 | $ 0.07–0.10 | $ 0.15 |
| Brazil | $ 0.15 | $ 0.09 | $ 0.35 |
| Chile | $ 0.30 | $ 0.12 | $ 0.45 |
(Tip: This data is sourced from the internet and does not guarantee absolute accuracy.)
Operating Environment
High or low temperatures have an impact on the performance and charging efficiency of the battery, for example, some forklifts operating in cold storage, the capacity of the battery will be reduced, the charging efficiency will be reduced, which leads to the need for frequent charging, greatly increasing charging costs. If you use a cold storage forklift battery, you won’t have to bother with these troubles
How Much Does It Cost to Charge a Forklift Battery?
In the following, a 48V 560Ah forklift battery with a total capacity of 26.88kWh is taken as an example. lead-acid (80%), lithium-ion (95%) and LiFePO4 batteries (98%) are selected respectively and charged using a 200A charger at 25°C. The charging time and cost of the different battery types are calculated according to the U.S. industrial electricity standard ($0.09/kWh), to compare their economic performance. Calculate the charging time and charging cost of different battery types according to the US industrial electricity standard ($0.09/kWh) for a more intuitive comparison of their economics.
According to the calculation principle, the charging time (in hours) is estimated by dividing the battery capacity (Ah) by the charger current (A), while the charging cost is determined by dividing the total battery power (kWh) by the charging efficiency and multiplying it by the electricity price.
| Battery Type | Charging Efficiency | Required Input Energy | Charging Time | Charging Cost |
|---|---|---|---|---|
| Lead-Acid | 80% | 33.60kWh | 3.50 h | $ 3.02 |
| Lithium-Ion | 95% | 28.32kWh | 2.95 h | $ 2.55 |
| LiFePO4 | 98% | 27.43kWh | 2.86 h | $ 2.47 |
(Tip: Calculated results are for reference only. )
Not surprisingly, LiFePO4 batteries offer significant savings on electricity costs for forklifts in the same configuration. With a 98% charging efficiency compared to lead acid or even standard lithium batteries, they consume less energy and take less time to charge, improving overall economy. If you want to calculate other charging times and electricity costs, you can use the BSL Battery Charge Time Calculator.
Hidden Costs of Forklift Battery Charging
Charging forklift batteries involves more than just the cost of electricity. Hidden costs that are often overlooked can have a serious impact on overall expenses. For example, lead-acid batteries require regular maintenance, such as watering and equalization charging, which can increase labour costs and downtime. Lead-acid batteries also require dedicated charging rooms with proper ventilation, which adds to infrastructure costs. These requirements not only take up space but are also costly to maintain.
In contrast, lithium forklift batteries are maintenance-free and do not require watering and equalization charging. They do not require dedicated charging areas or ventilation, which reduces labor and infrastructure costs.
In addition, lead-acid batteries take a long time to charge, which can reduce productivity. Lithium batteries charge quickly, minimizing downtime and increasing operational efficiency. These hidden costs can significantly reduce the total cost of ownership.
Which Forklift Battery Is More Cost-Effective?
Comparing the above data, there is no doubt that the LiFePO4 battery is the best choice. Although the initial purchase price is higher, it can save a lot of expenditure on charging and maintenance, and from the perspective of long-term use, it can save your factory a lot of electricity expenses.
BSLBATT provides the best LiFePO4 forklift battery with superior performance, lower cost, 50% higher efficiency than traditional batteries and UL2580, IEC62619, CE, and UN38.3 certificates, which promises to help you save up to 70% of your expenses within 5 years.
