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[6,7] and long-term cost savings through component-specific maintenance to extend the battery lifetime and remediate decay [8]. Figure I-1 – A representative schematic of capital cost as a function of characteristic discharge time (or duration) for RFBs and LIBs. As duration increases, the capital cost of decoupled battery architectures (e.g., the RFB) shifts to be dominated less by power costs and more by energy costs (per Equation I-1 below). Capital cost is a very important metric for evaluating the economic feasibility of batteries, the most cited being the Department of Energy’s (DOE’s) target for viable grid storage of ≤150 $ kWh-1 (note: the exact target varies by office within the DOE, and is often even below 100 $ kWh-1) [9,10]. This is because the capital cost is the primary barrier to adoption: grid-scale storage systems are large capital investments, so high capital costs hinder the ability to finance and install such systems. The capital cost (Ccapital) of a battery is generally defined as the sum of the energy costs (Cenergy) and the power costs (Cpower), the latter of which is divided by the duration to give consistent units of dollars per unit energy: 𝐶!"#$%"& " $ ()* $ ()* 0!"#$%1 $ 2 # + '( (I-1) # = 𝐶+,+-./ " 3456789: (=) For RFBs, the energy costs consist of the electrolyte (comprised of the active species, solvent, and supporting electrolyte) and tank, while the power costs encompass the stack (primarily the reactor, the most important components of which are the membrane and electrodes). Other balance-of- 10PDF Image | Bringing Redox Flow Batteries to the Grid
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