Lithium-ion batteries have held the largest market share of batteries since 2010 making it increasingly difficult for new battery developments to take root. Advancements in battery technology have paved the way for new power developments such as flow batteries. Flow batteries are currently facing great difficulties in trying to secure a larger market share in the ocean of positive uses of a lithium-ion alternative.
New developments in flow battery technology have resulted in decreased costs and increased efficiency, yet the flow batteries have not been able to compete with the current market leader. There are many benefits to flow batteries, especially for utility grid use, and yet, the DOE reported that 640 MWh of grid installations have been lithium-ion batteries. The fluids used to power flow batteries allow for longer battery life and flexibility for the size of the grid.
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