VRFB energy storage cost vs benefit calculation in China

How much does a VRFB cost?

To validate our model outputs, we compare our base case to other LCOS models of VRFBs in the open literature. Lazard's annual levelized cost of storage analysis is a useful source for costs of various energy storage systems, and, in 2018, reported levelized VRFB costs in the range of 293–467 $ MWh −1 (for mid-scale systems ~10 MWh) .

What is the optimal flow rate for a VRFB system?

The energy discharged by the system does not increase with the increase in flow rate. Considering the balance between efficiency and pump power loss, it is experimentally proved that 120 mL·min −1 is the optimal working flow rate of the VRFB system, which can maximize the battery performance and discharge more energy.

Can a VRFB be rebalanced?

In contrast, VRFBs can be rebalanced to restore lost capacity without additional capital expenditure. Thus, while VRFBs have significantly higher capacity fade rates than state-of-the art Li-ion batteries, the resilience of the VRFB electrolyte may lead to cost savings over the project lifetime.

How VRFB is different from a traditional battery?

Different from the traditional battery, the energy of VRFB is not stored in the electrode but in the electrolyte . The electrolyte is continuously circulated under the action of the pump to realize the charging and discharging of the battery. The schematic diagram of VRFB is shown in Fig. 1.

How do you evaluate the performance of a VRFB?

In evaluating the performance of a VRFB, efficiency can be assessed based on four metrics: system efficiency, coulombic efficiency, energy efficiency, and voltage efficiency. System efficiency measures the ratio of energy discharged by the system to energy input.

How do you recover a lost capacity in a VRFB?

The primary method for recovering the lost capacity in VRFBs is termed rebalancing, where the negative and positive electrolytes are mixed to equilibrate the concentration of vanadium ions in each electrolyte. Rebalancing is generally performed once the accessible capacity drops to a predefined level that is determined by application requirements.