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The contribution of the reactor to the system cost is a minimum at εv,d = 0.5 and monotonically increases as εv,d either increases or decreases according to (2.23). Practically, the assumption of linear polarization will probably fail at low voltage efficiency as mass-transport effects become more important. The cost of the chemicals is a minimum at εv,d = 1 and increases monotonically with decreasing εv,d. There is a voltage efficiency that yields a minimum total price for any set of component cost and performance parameters, according to (2.23). In the limit of long discharge times, the total system price approaches the chemical cost. The system price is separated into four contributions. The reduction in each of these factors between the reported 2014 minimum price and the projected future state price is shown in Figure 2.9. The energy and power costs are related to materials costs, with the quantities determined by the performance of the chemistry and the cell. The balance-of-plant cost, cbop, captures system complexity through purchased items such as heating and cooling equipment, state-of-charge management, power electronics, and pumps if required. The costs of the storage vessels are added to the electrolyte and active materials, because these three costs should scale together with energy. The additional contribution to price, cadd, captures the manufacturing cost, sales, general costs, administration costs, research and development costs, and profit quantities necessary to mark up the materials cost to a system price. The 2014 cadd estimates were found by subtracting the material and purchased items costs from battery prices reported in the literature, after correcting for any installation costs. Figure 2.9. – Plot for VRFB illustrating a potential pathway to reach cost effective energy storage. Where, balance of plant (BOP) is equivalent to cbop on an energy basis. The largest decrease occurs in the additional contributions to price factor (ADD) that encompasses depreciation, overhead, labor, etc152. 41PDF Image | Redox Flow Batteries Vanadium to Earth Quinones
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