Thanks Noodly, this line confirms what Chris Reed from Neometals...

Thanks Noodly, this line confirms what Chris Reed from Neometals said the other day about 1MWh requiring 5.5 Tonnes of Vanadium
In fact this is a better number again as it gets 1MWh below 5 Tonnes.
14600/3000(MWh) is 4.86 Tonnes per MWh... now here I go again....



So 2,205lbs per Tonne.
TNG's cost basis for Vanadium is at $2.50lb.
1MWh of Vanadium is 2205lbs x $2.50 x 4.86T = $26,790 - to get kWh cost / 1,000 OR.....
US $26.79 Cost per kWh of vanadium.

There are going to be many studies with different ratios of the cost structure of Vanadium, but a brief search is showing the figure up at the 30-35% mark - https://www.lesys.jp/english/initiatives/characteristics.php


If the ratio of cost were constant that the Electrolyte was 35% of the assembled VRFB, cost would be
$26.79 - 35% - Electrolyte
$19.14 - 25% - Assembly/construction costs
$13.78 - 18% - PCS (I think this is the control system ie Plant Control System)
$9.19 - 12% - Piping & Tank
$7.65 - 10% - Cell Stack
US $76.54 kWh cost

The cost target for Lithium Ion batteries is $100 kWh.

Noting the VRFB advances in Electrolyte requirement is a number I haven't seen & I probably pay more attention than most. In fact 9.8T/kWh was the only figure I was able to find only about 2 weeks ago.

In the space of the week Neometals MD has stated 5.5T & now it has been reported that it is even better than this at 4.86T/MWh

Those other cost components above - Cell stack, piping & tank I'd suggest R&D will have reduced those.
PCS - this is a no brainer - better software, better/cheaper sensors for control will bring this cost down
Assembly construction costs - this is economies of scale.

I think US$76.54 kWh may turn out to be too high an estimate.