The vanadium battery revolution.4 Sep 2020 11:04
Get on the grid: the coming vanadium battery revolution
Flow batteries look set to play an important part in the development of the global renewables market, which itself is expected to reach a size of $1.5 trillion by 2025. According to a report from Markets and Markets, the flow battery market, valued at a mere $187 million in 2017, is projected to reach $946 million by 2023. This represents a CAGR of 32.7% between 2018 and 2023.
'Vanadium battery technology looks to be critical in terms of the capital cost of energy storage, due to its high efficiency, superior energy density, and most importantly, lengthy lifespan. Energy companies are seeking infrastructure solutions like this that can help them to build a grid that operates cheaply and reliably, and where batteries using expensive vanadium can be counted on to last for years.
Low cost energy storage is going to be very important in the years to come, and vanadium redox flow batteries are considered to be one of the lowest cost means of storing electricity effectively in a localised fashion. Like mobile phone masts, they may soon become ubiquitous.
Vanadium flow batteries are already being scaled up for use by utilities – Rongke Power in China, for example, has been involved in the construction of one of the largest batteries of this type, designed to hold 800 MW hours of electricity, which should be enough to power thousands of homes.
One of the challenges facing the vanadium flow battery market is the global volume of production – the world vanadium market is sustained by a limited number of mines, with a small number of others coming online soon. This is going to eventually place a premium on vanadium and vanadium mining companies.'
https://www.thearmchairtrader.com/vanadium-flow-battery-investment/
Thanks to Amateur PI on Twitter for the share.