The construction process of new energy storage is accelerating, and the commercialization level of all-vanadium redox flow batteries will be improved.

Flow battery is a large-scale, high-efficiency electrochemical energy storage technology. Flow batteries can be divided into all-vanadium flow batteries, iron-chromium flow batteries, zinc-bromine flow batteries, etc. Among them, all-vanadium flow batteries are a redox battery that uses vanadium as the active material and presents a circulating liquid state. . All-vanadium flow batteries have the advantages of long service life, good scalability, and high flexibility. They are currently the most promising energy storage technology for large-scale applications.

Under the background of carbon neutrality and carbon peak strategies, my country’s energy structure continues to change, the new energy storage industry has developed rapidly, and the market demand for all-vanadium redox flow batteries has been released. In order to promote the commercialization process of all-vanadium redox flow batteries, relevant departments in my country have issued a number of favorable policies in recent years, such as the “Guiding Opinions on Accelerating the Development of New Energy Storage” and the “Implementation Plan for the Development of New Energy Storage during the “14th Five-Year Plan”” “wait. Driven by policies, the construction of new energy storage has accelerated, which is beneficial to the development of the all-vanadium redox flow battery market.

According to the “2022-2026 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 newly installed capacity of all-vanadium redox flow batteries will be about 0.2GW. From 2021 to May 2022, there will be more than ten all-vanadium redox flow battery energy storage projects being planned or constructed in China, with a total scale of about 3.8 GW, with the relevant production capacity under construction put into operation, it is expected that the newly installed capacity of all-vanadium redox flow batteries in my country will reach about 0.7GW in 2022.

The all-vanadium flow battery originated in the 1960s. With the development of the market, the all-vanadium flow battery technology has become mature. However, due to its high construction cost, the commercialization process of the all-vanadium flow battery has been slow. Vanadium pentoxide is the main raw material for all-vanadium redox flow battery electrolytes. my country is rich in vanadium resources, accounting for about 40% of global vanadium ore resources. In 2021, the output of my country’s vanadium pentoxide industry will be about 140,000 tons. Overall, my country has independently controllable resource advantages in developing all-vanadium redox flow batteries.

The number of all-vanadium redox flow battery companies in my country has reached more than 20, and with the development of the new energy storage industry, the number of all-vanadium redox flow battery companies in the market is constantly increasing. At present, domestic listed companies related to all-vanadium redox flow batteries include State Grid Yingda, Shanghai Electric, Velide, Panzhihua Iron and Steel Vanadium Titanium, etc. Others include Beijing Purneng, Zhonghe Energy Storage, China Vanadium Energy Storage, Hubei Engineering Construction Group, etc. enterprise. With the active layout of relevant enterprises, the industrialization and scale level of all-vanadium redox flow batteries will be improved.

Industry analysts said that all-vanadium redox flow batteries are mainly used in the field of energy storage. With the transformation of my country’s energy structure, new energy storage With the development of the industry, the all-vanadium redox flow battery market has broad development prospects. Due to cost constraints, my country’s all-vanadium redox flow battery market is still in its initial development stage. However, as related projects are put into production and costs decrease, the commercialization of all-vanadium redox flow batteries will continue to increase.