BOSTON, April 19, 2017 /PRNewswire/ -- Redox flow batteries (RFB) are an energy storage technology initially developed by NASA in the 70's for space applications. After several years of intensive R&D, in 2006, several key patents on the technology expired, opening up the arena to companies all around the world.
In their brand new report, Redox Flow Batteries 2017-2027: Markets, Trends, Applications, IDTechEx Research have analysed the redox flow battery market by talking to key stakeholders and making their own estimates on how it will grow based on a technology and manufacturing readiness analysis.
IDTechEx predicts that the RFB market will be worth $4bn by 2027 and will include all stationary storage applications, from residential to C&I to grid-scale systems. With ambitious projects already underway RFBs have the potential to become a mainstream technology that will compete directly with lithium-ion and sodium-sulphur, currently the two leading chemistries in the stationary storage market.
In the report IDTechEx has analysed the five main RFB chemistries:
Other technologies that were the unsuccessful subject of commercialisation in the past are also analysed, to give a full technical overview of what is out there and which chemistries will come out as winners in this arms race.
The results show that one battery chemistry in particular will lead in terms of megawatt-hours deployed; however, there is room for competition given recent announcements from the major representatives of competing chemistries. Strong trans-pacific partnerships are being formed as a result of China's government push into renewables integration and cleantech innovation.
Alternative applications like automotive are also included in the report, with a historic background on previous efforts and an outlook on what some companies are trying to achieve.
By purchasing this report, users will have access to valuable insights into 19 of the largest players in the redox flow battery industry, as well as a techno-economic analysis of the available chemistries. IDTechEx has outlined how the Li-ion industry will be affected by the emergence of a battery technology that can deliver a long cycle life and solve many safety issues like flammability and short circuits.
Marketing Manager, Reports
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