Imagine you’ve tied a heavy weight to a pulley up in the air. When you first did it, you had a tractor pull the weight to the top so you get the maximum thump when it hits the ground. After you’ve used it once, you aren’t able to use the tractor again, so your buddies will help you pull it as high as possible. But, since you’re all human, you can’t quite reach the same height as the tractor did, so you all agree to give up somewhere near the top. When you let go, there’s still a thump, but it’s not as satisfying.
The tractor pulled rock is a non-rechargable battery. The weight that you and your buddies pulled is the rechargeable one – not as efficient, but you don’t need to borrow uncle Mickey’s tractor to head down to the store and buy new batteries.
The reason for rechargeable batteries not being as great is the concentration gradient – the electron slush inside the battery is designed that you can put all the electrons back into the right place, but as you get to higher charges, you end up working against the new gradient and it’s just not worth it to get it to the 99-100% charge level, so your battery might top out anywhere between 60-80%. (Pure estimate, please don’t quote me)
I’m sure there’s a university-level answer with a breakdown that mentions vanadium, but I tried for a ELI5 and then maybe a high school level in the third paragraph.
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