A study last week showed flow batteries could maintain a cost edge over lithium-ion chemistries, even in the face of massive deployment of the latter.
The research, by Imperial College London in the UK, estimated the future cost of different electrical energy storage technologies based on experience rates, or the rate at which product prices change with cumulative production.
It showed redox flow batteries achieving a ‘competitive’ capital cost threshold of USD$650 per kWh of capacity by 2019, once around 7GWh or $4bn of projects had been installed.
Lithium-ion batteries, in contrast, would require at least 33GWh of installations to reach the same level. This would take until 2023 and cost $94bn, the authors concluded.
The $650 price point was chosen as a level at which energy storage systems could be competitive based on their ability to deliver multiple services simultaneously.
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