Views: 0 Author: Site Editor Publish Time: 2022-11-01 Origin: Site
Redox flow batteries are rechargeable batteries that are charged and discharged by means of the oxidation-reduction reaction of ions of vanadium or the like. They have excellent characteristics: a long service life with almost no degradation of electrodes and electrolytes, high safety due to being free of combustible materials, and availability of operation under normal temperatures. These make the batteries ideal for use in power grid systems. Redox flow batteries are thus expected to serve as a technology to stabilize the power grids that will be needed to expand the introduction of renewable energy including solar and wind power.
The global redox flow battery market size was valuted at $130.4 million in 2018, and is projected to reach $403.0 million by 2026, growing at a CAGR of 15.2% from 2019 to 2026.
A redox flow battery is an electrochemical energy storage device that converts chemical energy into electrical energy through reversible oxidation and reduction of working fluids. The concept was initially conceived in 1970s. Clean and sustainable energy supplied from renewable sources in future requires efficient, reliable and cost‐effective energy storage systems. Due to the flexibility in system design and competence in scaling cost, redox flow batteries are promising in stationary storage of energy from intermittent sources such as solar and wind. This chapter covers basic principles of electrochemistry in redox flow batteries and provides an overview of status and future challenges. Recent progress in redox couples, membranes and electrode materials will be discussed. New demonstration and commercial development will be addressed.
The globla redox flow battery market is segmented into type, application and region. Depending on type, the global market is bifurcated into a vanadium redox flow battery and hybrid redox flow battery. By application, it is categorized into utility services, renewable energy integration, ups and others. Region wise, the market is studied across North America, Europe, Asia-Pacific and LAMEA.
Their ability to decouple power and energy makes them a suitable option for grid-scale stationary applications in terms of scalability, moderate maintenance cost and recyclability. In addition, these batteries based on highly stable redox active materials have a long cycle life (>10,000 cycles) and calendar life (10-20 years), as components can be replaced independently.
In conclusion, redox flow technology could be one of the technologies that could contribute to the decarbonization of the economy, strengthen the flexibility of the electricity system, facilitate the deployment of renewables and to technological and industrial sovereignty based on the use of sustainable and low LCOS materials.