Lithium-ion batteries have taken the lion’s share of the energy storage market, but technological advances in flow batteries that bring down costs and improve their safety and environmental profile are likely to boost utility-scale installations and deployments. Compared to lithium-ion batteries, vanadium redox flow batteries (VRB) are non-flammable, environmentally friendly, have estimated lifespans in excess of 10,000 cycles and maintain 90% of their capacity over 20 years thereby lowering the total cost of ownership. Getting 1,000 cycles of use out of a lithium-ion battery with full depth of discharge however, would be ambitious.
Acceptance of flow batteries (for large storage is gathering momentum
TMT Price at posting:
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