my country has abundant vanadium resources and the demand for vanadium batteries continues to rise

Flow batteries mainly include four categories: zinc-bromine batteries, iron-chromium batteries, all-vanadium flow batteries, and polysulfide sodium-bromine batteries. All-vanadium flow batteries are the batteries with the fastest commercialization process and the highest technological maturity. Vanadium battery, also known as all-vanadium redox flow battery, is a redox battery in which the active material is in a circulating liquid state. The capacity increases with the increase of the liquid storage tank.

Vanadium batteries have the advantages of high safety, environmental friendliness, flexible configuration, long service life, easy adjustment of capacity scale, high charging and discharging efficiency, fast response speed, high degree of modularity, and electrolyte can be recycled, etc., and are often used as an excellent battery. Energy storage systems are used in wind power generation, photovoltaic power generation, special power storage, grid peak shaving, distributed power stations, transportation and municipal administration, communication base stations, UPS power supplies and other fields.

According to the “2023-2027 Global Vanadium Battery Industry In-depth Market Research and Key Area Research Report” released by the Industrial Research Center, the global Within the scope, vanadium resource reserves are relatively concentrated, mainly distributed in China, South Africa, Russia, and Australia. According to data from the United States Geological Survey, global vanadium reserves are approximately 22 million tons, of which China’s reserves are approximately 9.5 million tons, ranking first in the world, accounting for approximately 43.2% of the world’s total reserves. my country’s rich vanadium ore resources provide sufficient raw materials for the development of vanadium batteries. In addition, my country’s vanadium ore resources are mainly distributed in Panzhihua, Sichuan and Chengde, Hebei, with a small amount distributed in Chifeng, Inner Mongolia, Zhangjiakou, Hebei, and Jianping in Liaoning Province. Therefore, my country’s vanadium battery companies are also concentrated in Panzhihua and Hebei.

At present, wind power generation and photovoltaic power generation are characterized by discontinuity, instability, and uncontrollability. There is a large amount of abandonment of wind and light, and the lead-acid batteries used have low power, low capacity, and short life. As the proportion of new energy power generation continues to increase, long-term energy storage has become an urgent problem to be solved. Vanadium battery is a good long-term energy storage system and has great development potential in the field of new energy power generation. As the demand for long-duration energy storage technology has increased rapidly in recent years, the market demand for vanadium batteries has continued to rise.

In recent years, the Chinese government has successively promulgated the “Twenty-Five Key Requirements to Prevent Electric Power Production Accidents (2022 Edition) (Draft for Comments)”, “Guiding Opinions on Accelerating the Development of New Energy Storage”, “The 14th Five-Year Plan” Policies such as the “New Energy Storage Development Implementation Plan” have vigorously promoted the technological upgrading of electrochemical energy storage stations in my country, promoted the commercialization process of vanadium batteries, and increased the penetration rate of vanadium batteries. With favorable policies, my country’s vanadium batteries are developing well.

Industry analysts said that higher costs are the core factor limiting the development of vanadium batteries. In the past, due to the incomplete industrial chain of my country’s vanadium battery industry, immature supporting facilities, and high reliance on imports of key components such as ion exchange membranes, the cost of vanadium batteries was relatively high. With the continuous construction of my country’s vanadium battery industry chain and the continuous improvement of related product R&D technology and performance, my country’s vanadium battery industry chain has begun to take shape, the market localization rate has gradually increased, and the industry’s prosperity has continued to increase.