KNOWLEDGE
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Vanadium Energy Storage – 2

April 02, 2022

Pumping and power storage has high requirements for geographical location. It is often built in reservoirs and other areas, which is not suitable for all scenarios. In the face of large-scale energy storage scenarios (such as grid connection) or consumer scenarios (such as new energy vehicles), electrochemical energy storage technology can become a good supplement.

 

 

Electrochemical energy storage technology has made rapid progress in recent years. Vanadium power, as one of its branches, has the characteristics of environmental protection, no pollution, long service life, high conversion efficiency (up to 65% - 80%), stable performance and high-frequency repeated charging. It is suitable for wind and solar power storage and has become a "large charging treasure" of the power grid.

 

 

If lithium battery is now the well deserved "King" of the energy storage market, then vanadium battery is a new star in the scene of large-scale power storage.

 

All vanadium flow battery technology was put forward in 1985, and Europe, America, Japan and other countries are at the forefront of commercialization. By the beginning of 2000, vanadium battery systems in these countries had been preliminarily applied in peak shaving of power stations, solar energy storage, wind energy storage and other scenarios, close to the stage of commercialization.

 

Under the background of "double carbon" (carbon neutralization and carbon peak), photovoltaic and other industries responsible for power generation have reached the forefront of the world, and the subsequent energy storage industry has become the next battleground for strategists.

 

 

First of all, the slogan of commercialization is lithium battery. New energy vehicles drive the continuous decline of the cost of lithium battery, so that lithium battery can be applied to energy storage on a large scale and become the mainstream line at present.

 

 

The policy is also following up quickly. According to the 14th five year plan for energy storage, it is planned to realize the comprehensive market-oriented development of new energy storage by 2030. It is estimated that by 2025, the new installed capacity of lithium battery energy storage is expected to reach 64.1gwh, with a compound growth rate of 87% in the next five years.

 

 

But lithium batteries are not perfect. In the upstream, China's lithium resources are not rich and mainly rely on imports. The huge demand brought by double carbon has gradually raised the price. Since last year, the price of lithium in the upstream has soared to an all-time high. In large-scale energy storage scenarios, lithium battery applications have also had many accidents, and its safety needs to be tested.

 

 

Therefore, other new technologies are needed to supplement different energy storage scenarios. There is an obvious signal in the energy storage plan of the 14th five year plan, which has recently been unveiled - the only quantitative goal is to reduce the cost of electrochemical energy storage by 30%. In addition, unlike the previous emphasis on lithium batteries, the policy points out the "development of diversified electric energy storage technology"


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