Lithium iron phosphate battery, commonly known as LiFePO4 Battery or LFP Battery. A lithium-ion or Li-ion battery is a type of rechargeable battery which uses the reversible intercalation of Li+ ions into electronically conducting solids to store energy. In comparison with other rechargeable batteries, Li-ion batteries are characterized by a higher specific energy, higher energy density, higher energy efficiency, longer cycle life and longer calendar life. Also noteworthy is a dramatic improvement in lithium-ion battery properties after their first market introduction in 1991: within the next 30 years their volumetric energy density increased 3-fold, while their cost dropped 10-fold.
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