How much does a vanadium flow battery energy storage system cost?

In a market announcement on Wednesday, parent company Australian Vanadium Ltd says analysis completed by VSUN Energy finds that a four-hour 100MW vanadium flow battery energy storage system (BESS) can deliver a levelised cost of storage (LCOS) of around $A274/MWh.

Can a vanadium flow battery compete with a lithium-ion battery?

Australian long duration energy storage hopeful VSUN Energy says it can deliver a grid-scale vanadium flow battery with up to eight hours of storage capacity that can compete, on costs, with lithium-ion battery products currently in the market.

Is vanadium good for flow batteries?

Vanadium is ideal for flow batteries because it doesn’t degrade unless there’s a leak causing the material to flow from one tank through the membrane to the other side. Even in that case, MIT researchers say the cross-contamination is temporary, and only the oxidation states will be affected.

Are there any vanadium flow batteries in the United States?

The United States has some vanadium flow battery installations, albeit at a smaller scale. One is a microgrid pilot project in California that was completed in January 2022.

How long do flow batteries last?

Flow batteries also boast impressive longevity. In ideal conditions, they can withstand many years of use with minimal degradation, allowing for up to 20,000 cycles. This fact is especially significant, as it can directly affect the total cost of energy storage, bringing down the cost per kWh over the battery’s lifespan.

Are flow batteries a good energy storage solution?

Let’s look at some key aspects that make flow batteries an attractive energy storage solution: Scalability: As mentioned earlier, increasing the volume of electrolytes can scale up energy capacity. Durability: Due to low wear and tear, flow batteries can sustain multiple cycles over many years without significant efficiency loss.