Average Cost of Forklift Batteries

The cost of forklift batteries varies significantly depending on the type of battery. For lead-acid forklift batteries, prices typically range from $1,000 to $5,000, while lithium forklift batteries can cost between $3,000 and $10,000. This substantial difference means that the actual cost of owning a battery goes beyond just the purchase price.

Average Cost of Forklift Batteries

Actual Cost of Purchasing Lead-Acid Forklift Batteries

To determine the actual cost of forklift batteries, it is essential to understand the various aspects of each battery type. Wise managers will carefully research the fundamental costs associated with owning either type of battery before making a decision. The actual costs of forklift batteries are as follows:

• Labor Costs: Labor is a significant expense in any warehouse operation. Purchasing lead-acid batteries can substantially increase the actual cost of forklift batteries. Each lead-acid battery requires considerable labor hours annually to ensure they operate correctly.
• Charging Needs: Each battery can only be used for about 8 hours before needing a 16-hour charge and must be stored in a special area for cooling. A warehouse operating 24/7 typically requires at least three batteries to ensure continuous operation. If any batteries need to be taken offline for maintenance, additional batteries must be purchased, leading to more paperwork and a dedicated team to track charging, changes, and maintenance.

Warehouse Costs for Forklift Batteries

Lead-acid batteries have a larger capacity, which means warehouse managers must sacrifice some storage space to accommodate several batteries. Additionally, modifications to storage areas are necessary to house lead-acid batteries.According to guidelines from the Canadian Centre for Occupational Health and Safety, charging areas for lead-acid batteries must meet extensive requirements, all of which incur extra costs. Special equipment is also needed to monitor and protect lead-acid batteries.

Occupational Hazards

Another cost associated with lead-acid batteries is the occupational hazards they present. These batteries contain highly corrosive liquids, and if a high-capacity battery leaks, it can halt warehouse operations while cleanup occurs, resulting in additional time costs.

Replacement Costs

While the initial cost of lead-acid forklift batteries is relatively low, these batteries can handle only about 1,500 cycles if properly maintained. This means warehouse managers need to order new large batteries every two to three years, incurring extra costs for disposing of old batteries.

Actual Costs of Lithium Forklift Batteries

Having examined the actual costs of lead-acid batteries, here is a summary of the costs associated with using lithium batteries in forklifts:

• Space Savings: One of the most significant advantages of using lithium batteries is the space savings. Unlike lead-acid batteries, lithium batteries do not require special modifications to storage areas and are lighter and more compact, taking up much less space.
• Time Savings: One of the greatest benefits of lithium batteries is their rapid charging capability. When paired with the appropriate charger, lithium batteries can be fully charged in about two hours, allowing for opportunity charging during breaks.
• Energy Efficiency: A hidden cost of using lead-acid batteries is energy waste. Standard lead-acid batteries have an efficiency of only about 75%, meaning that around 25% of the electricity purchased for charging is lost. In contrast, lithium batteries boast an efficiency of up to 99%, leading to significant energy cost reductions over time.
• Enhanced Worker Safety: According to OSHA data, most lead-acid battery accidents occur during replacement or watering. By using lithium batteries, the serious hazards associated with lead-acid batteries can be eliminated. Lithium batteries do not contain sulfuric acid, minimizing the risk of leaks and explosions.
• Performance in Cold Storage: In cold storage facilities, lead-acid batteries can lose up to 35% of their capacity near freezing temperatures. Lithium batteries, however, maintain performance and efficiency in low temperatures, saving time and money on energy costs.
• Increased Productivity: Over the long term, installing lithium batteries reduces the hassle of battery replacements for forklift operators, allowing them to focus on efficiently moving goods within the warehouse.
• Improved Competitive Edge: One of the many benefits of installing lithium batteries is the potential to enhance a company’s competitiveness. While companies must manage short-term costs, they must also consider long-term viability. Failing to upgrade can lead to lost market share due to slower operations.

Can Existing Forklifts Be Upgraded to Lithium Batteries?

Yes, for example, SPIDERWAY provides lithium batteries that are easy to connect to existing forklifts. These batteries can handle up to 3,500 charging cycles and come with a 10-year lifespan and a 5-year warranty, ensuring optimal performance throughout their use.

Lithium is the Smart Choice

For warehouse managers, investing in lithium batteries may be one of the smartest decisions in the long run. Carefully consider the actual costs of each battery type and invest in reducing overall forklift costs. Lithium battery technology offers undeniable advantages that will pay off over the battery’s lifespan. Explore SPIDERWAY’s lithium forklift battery products for a reliable and efficient power solution.