Redox flow batteries (RFB) are an energy storage technology initially developed by NASA in the 70's for space applications. After several years of intensive R&D, in 2006, several key patents on the technology expired, opening up the arena to companies all around the world.
The redox flow battery technology, despite higher upfront costs and lower energy density, has a shorter payback time thanks to a good capacity retention even after many thousands of cycles. Additionally, RFBs retain most of their initial value thanks to the possibility to recycle their core components more easily than other battery chemistries. Some RFB chemistries, like that based on vanadium, are already commercial.
In this webinar by IDTechEx, Senior Technology Analyst Dr Lorenzo Grande
will analyse the redox flow battery market by discussing the various technology alternatives, from iron-chromium, to polysulphide-bromine, to all-vanadium, zinc-bromine, and other hybrid systems.
IDTechEx predicts that the RFB market will be worth $4.5B by 2028, and will include all stationary storage applications, from residential to C&I to grid-scale systems. With ambitious projects underway like the massive 200 MW / 800 MWh system under construction in the Dalian peninsula in China, RFBs have the potential to become a mainstream technology that will compete directly with lithium-ion and sodium-sulphur, currently the two leading chemistries in the stationary storage market. RFBs can potentially make second-life Li-ion batteries obsolete by offering a stable cycle life and reduced engineering and BMS challenges. Recycling aspects will ensure that, once out of service, the raw materials will retain most of their value and will be used in brand new RFBs.