Mr SeungJae Hong, Battery Engineer
Energy Storage Systems (ESS) needs are increasing every year and will become $45-100 B business in next 5-10 years. The dismantling of nuclear plants in Europe and Japan shows that demands to use alternative energy along with ESS is gaining momentum. Although Li-ion batteries are leading the installations volumes at present but Flow battery seems to compelling and can be competitive when discharge times exceeds 4-5 hours. One of the popular chemistry is vanadium flow battery which is gaining popularity due to its long cycle life and ease of manufacturing. This presentation will address the demand, cost structure and market size of flow battery and possibility of future cost reduction either by mechanical design optimization, economy of scale and improving the manufacturing processes.
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