Many of us were financially worse off due to the pandemic and its effect on the world economy. In times like this, it helps to have an extra source of income and a source of income that benefits both you and the environment—recycling batteries.
It wouldn’t be a stretch to say that most people go through large amounts of batteries every year, especially business owners whose businesses involve electronics. To learn how to make money recycling batteries or sell old car batteries to make money.
Can I Make Money From Batteries?
Put, yes. You can.
Now, we tend to assume that batteries become worthless once they stop working—this is an erroneous assumption. The components of batteries, such as lead-acid, are still worth money in the market—which translates to potential profit for you.
Just as batteries vary significantly in types, shapes, and sizes, their components’ worth during recycling differs significantly. You have the chance to make good money from lithium-ion batteries, like the one in an Android smartphone, and from lead-acid batteries, like the ones in your car.
Recycling, Dumping, and Legislation
If you run a business that requires the usage of batteries, you’re probably familiar with the strong legislation around the disposal of waste, not to mention toxic waste. Some of the chemicals in batteries are toxic and better kept away from dumping grounds and landfills. To dispose of this toxic waste, you may have to hire a disposal service—which can cost you a potentially large sum of money. It is a better decision, in monetary terms, to recycle the batteries instead of getting rid of them immediately. Recycling services tend to be much cheaper than disposal services.
Furthermore, recycling lithium-ion, lead-acid and Ni-Cad batteries are mandated by Federal law. More specific rules vary by state, so you might want to consult a legal expert for the details in your State.
The increasing legislation can pose an issue for your business, though, as it increases the risk of being handed expensive fines out of the blue. For financial and PR reasons, it’s best to obey the law and avoid penalties. Even from a non-legal standpoint, it’s a better idea to recycle batteries instead of disposing of them. Dead and old batteries that aren’t recycled run the risk of several valid dangers, including lead poisoning.
How Much Money Can I Make?
As a consumer, you’re likely to get around $0.33/lb of lead-acid batteries and $1.30/lb of lithium-ion batteries. These rates are subject to fluctuation, so it is recommended that you check with the nearest available recycling service or scrapyard. Lithium-ion is the more cost-effective option of the two for those running recycling units.
If you’re looking strictly for money, it’s better to avoid selling these batteries for recycling to retail stores such as Walmart. They sell products at retail rates and even charge for recycling different batteries. In terms of money, it is better to sell to a scrapyard or a scrap business. However, if you are willing to accept alternative rewards, such as store credit and collectible loyalty points, retail stores may be the more suitable.
A Battery Recycling Business
If you’re an entrepreneur, you might be wondering to yourself, “How do I make this into my own business?”
The prominent part is that you would have to set up a recycling plant. First, you would require a strong business plan and select the type of battery you would be recycling—since there’s a wide range of them, you’d have many options to choose from.
Secondly, as mentioned previously, there are many laws surrounding disposal, handling, and recycling of toxic waste, so that you would require registration with the local authorities, followed by clearance and approval from the government—particularly the Environment Department. You would also need a good knowledge of the recycling process to run your unit successfully, or you could hire professionals to take care of this aspect, but it’s still crucial to know the process inside-out. You will also need to rent or purchase a dry and clean space with the facility of temperature control, storage space, specific machinery and tools, and workforce to run the recycling unit.
Alternatively, you could try a middleman approach, in which you would purchase batteries from consumers, then sell them to recycling businesses in bulk. This approach, too, would require a strong business plan, governmental permits, and clearance, and rented or owned clean, dry space to store large quantities of batteries. The facility of temperature control would be helpful here as well.
Furthermore, you would likely also have to account for transportation—for which you could hire an agency, as it would cost less money than buying vehicles, hiring drivers, and paying for fuel and maintenance of the car itself.
To conclude, there are many different ways to make money recycling batteries. You can do so as a consumer, as the owner of a battery-consuming business, or as someone directly in the business of recycling batteries itself. There is, without a doubt, money to be saved if not made by recycling batteries. Not only does it save money, but it also helps the environment by preventing toxic waste from dead batteries from causing damage to plants, animals, and people alike. It is indeed a way for all to prosper together.