The all-vanadium redox flow battery industry is in the early stages of commercialization and has huge potential for future market development.

The all-vanadium flow battery is a redox battery that uses vanadium as an active material and presents a circulating liquid. The all-vanadium redox flow battery originated in the 1960s. After more than 20 years of research and development, the production technology of the all-vanadium redox flow battery has become mature and is gradually being applied in the field of wind power energy storage and gradually developing towards commercialization. Compared with conventional solid batteries, all-vanadium redox flow batteries have the characteristics of decoupling power and capacity. The storage capacity is determined by the volume of electrolyte, and the size of the stack determines the battery power. The unique structure of the all-vanadium flow battery makes this type of battery highly scalable, with high component flexibility and long service life. It is currently the energy storage technology with the most promising large-scale application prospects.

The safety and reliability of all-vanadium redox flow batteries in industrial applications have been verified, and they have the advantage of complete energy storage functions, attracting deployment from countries around the world. In 2019, there were more than 200 all-vanadium flow battery technology demonstration and application projects around the world, and the earliest projects were established more than 20 years ago. Although the all-vanadium redox flow battery industry has good development prospects, due to immature technology, the power density of the all-vanadium redox flow battery stacks currently used in industry is low, resulting in problems such as large systems and construction costs, which limits all-vanadium redox flow batteries. development of the industry.

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 with the launch of the “carbon peak” and “carbon neutrality” goals, the development of my country’s new energy industry has received attention, and the electrochemical energy storage industry has also developed rapidly. At present, there are still technical problems in electrochemical energy storage. As the technology of all-vanadium redox flow batteries is improved and the cost is reduced, its application advantages in the field of energy storage are highlighted, and its application prospects in this field are good.

According to the “Guiding Opinions on Accelerating the Development of New Energy Storage” issued by the National Development and Reform Commission and the National Energy Administration, new energy storage will develop from the early stage of commercialization to large-scale development in 2025. It is expected that the scale of domestic new energy storage installed capacity in 2025 will be in Around 32GW. In the application of energy storage, the comprehensive performance of all-vanadium redox flow batteries is particularly excellent. It is expected that in strategic major markets, the market penetration rate of all-vanadium redox flow batteries is expected to reach 16% by 2025.

Wuhan Nari, a subsidiary of State Grid Yingda Company, has been committed to the industrialization and large-scale development of all-vanadium redox flow batteries, cultivating all-vanadium redox flow batteries as a key project, but the current application of all-vanadium redox flow batteries is in In the small-scale promotion stage, the degree of marketization is low and it is in the early stage of commercial operation.

Industry analysts said that the application of all-vanadium redox flow batteries in the field of energy storage has obvious advantages compared with conventional batteries. With the improvement of production technology and improvement of performance, the industry will usher in a period of rapid development. Due to the current shortcomings of all-vanadium redox flow battery technology, which is still in the stage of small-scale promotion and has shortcomings such as high cost and huge system, there is still room for substantial improvement in the industry in the future.