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3. Scale at which Vanadium getscompetitive. VRB batteries are already cost competitive to any other storage technology on terms overall cost of ownership or levelized cost of storage (LCOS)6. The upfront capex cost is about 1.2-1.5 times the cost of Li-ion technology which is mainly due the relatively low scale of manufacturing and deployment of flow batteries. However, there is a tremendous potential of cost reduction with the VRFB battery technology. The cost reduction potential of li-ion technology is slowing whereas the cost reduction potential of flow batteries is increasing3. This can be well interpreted from the fact that Flow battery technology uses a much simpler power electronics and overall BOS as compared to li-ion technology (Figure 2). This offers a tremendous scope of cost reduction at scale. This is further supported by recent report published by Lazard that shows the cost of flow battery technology has reduced by 38% whereas Li-ion technology is slowing to 28%.3,7 Figure 6 compares the 5 year cost decrease and CAGR of Li-ion with VRFB respectively. Fig 6: Capital cost reduction of VRB and Li-ion Technology.3,7 Furthermore, a recent report published in Nature energy by Imperial college London shows that economics of scale for Vanadium redox flow technologies is achieved at 7GWh of deployment at utility scale while the same for Li-ion is achieved at 33 GWHh.8 The findings of this research paper is encouraging which clearly demonstrate that VRFB technology has potential to reach scale of economics at 1/5 of the required Li-iontechnology.PDF Image | Vanadium Redox Flow Batteries for Mass Scale Energy
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Salgenx Redox Flow Battery Technology: Salt water flow battery technology with low cost and great energy density that can be used for power storage and thermal storage. Let us de-risk your production using our license. Our aqueous flow battery is less cost than Tesla Megapack and available faster. Redox flow battery. No membrane needed like with Vanadium, or Bromine. Salgenx flow battery
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