Benefiting from policy support, the flow battery industry has good development prospects

Flow battery is a large-scale, high-efficiency electrochemical energy storage technology. In a flow battery, active materials are stored in an electrolyte solution. The electrolyte solution is fluid and can achieve spatial separation of electrochemical reaction sites and energy storage active materials. Flow batteries have the advantages of long life, 100% discharge depth, and high safety, and are widely used in the field of energy storage.

Benefiting from the influence of “carbon neutrality” and “carbon peaking” strategies, my country’s energy structure continues to change, and the proportion of energy storage continues to increase. In order to promote the development of the energy storage industry, my country’s National Development and Reform Commission and the Energy Administration have issued policies such as the “14th Five-Year Plan for the Implementation and Development of New Energy Storage” and the “Guidance on Accelerating the Development of New Energy Storage” to promote the development of the energy storage industry. The demand for flow battery applications continues to rise.

According to the “2021-2026 All-vanadium Redox Flow Battery Industry Market In-depth Research and Investment Prospects Forecast Analysis Report” released by the Industrial Research Center It shows that in 2021, my country’s energy storage will be commercialized, and the cumulative installed capacity of new energy storage in my country will reach 5730MW. In terms of technology, lithium batteries, compressed air, flow batteries, flywheel energy storage and other technologies have become the main support, and application demand continues to rise. Electrochemical energy storage is an important sub-industry in energy storage. It is expected that the cumulative electrochemical energy storage will reach 32GW by 2025. With the commercial promotion of vanadium batteries, the scale of newly installed vanadium flow batteries is expected to continue to rise, from 0.2GW in 2021 to 1.8GW in 2025.

According to the current development trend, it is expected that the cumulative installed capacity of vanadium flow batteries in my country will be approximately 4.4GW by 2025, and the cumulative penetration rate will be 15% by then. In the early days, the production cost of all-vanadium redox flow batteries was low. However, as the production technology of lead-acid batteries and lithium-ion batteries continues to improve, the production cost drops, the competitive advantage of all-vanadium redox flow batteries weakens, and the proportion continues to decrease.

There are many types of flow batteries, including iron-chromium flow batteries, all-vanadium flow batteries, zinc-bromine flow batteries, zinc-nickel flow batteries, zinc-iron flow batteries, zinc-air flow batteries, and all-iron flow batteries. wait. In terms of technology, ten MW·h level products are already in the commercial application stage, and kW·h to 100 kW·h level technologies are in the demonstration and commercial demonstration stage.

In terms of market competition, due to the high cost and high technical requirements of flow batteries, there are many overseas flow battery manufacturers that have achieved commercialization. Representative companies include Japan’s Sumitomo Electric, Cellennium, Cellstrom, and Kashima-Kita wait. my country’s flow battery market is small and the industry is still in the early stages of development. Representative companies include Dalian Raycom, Beijing Puneng, Huifeng High-tech Energy, State Grid Yingda and Shanghai Electric.

Industrial analysts said that flow batteries are mainly used in the field of energy storage. With the introduction of the dual-carbon strategy, my country’s energy structure Continuous improvement and an increase in the proportion of energy storage will benefit the development of the flow battery industry. Flow batteries have high technical requirements and cost problems. There are few companies in the world that can achieve commercialization. my country’s flow battery market is still in the early stages of development.