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Redox Flow Batteries Charge Forward

By Gerald Ondrey |

Developments in redox flow batteries are moving at a tremendous pace to meet the growing need for large-scale energy-storage systems, which are used for stabilizing electric power distribution The global energy-storage market is expected to double, from 1.4 GWh added in 2015 to 2.9 GWh this year, according a report published in July by IHS Markit (London, U.K.; www.ihsmarkit.com). Global grid-connected energy-storage capacity will surge to 21 GWh by 2025, says IHS Markit. Although lithium-ion batteries are expected to dominate the market — accounting for 80% of global installations by 2025, IHS Markit projects — next generation batteries, including advanced redox-flow batteries (RFBs), will also grow in importance. According to Navigant Research (Boulder, Colo.; www.navigantresearch.com), flow batteries’ market share (in power capacity and revenue) of stationary energy storage across utility, commercial and industrial, and residential sectors, will rise from 145 MW in 2016 ($151 million) to 5.77 GW ($2.92 billion) in 2025. In contrast, Li-ion batteries’ share will grow from 1.06 GW ($789 million) in 2016, to 19.28 GW ($6.36 billion) in 2025. Navigant Research forecasts that new, next-generation flow batteries will begin to…
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