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2022 Roberts Lithium Ion and Vanadium Flow Battery Economics

Diarmid Roberts

2026enenergy storagelithium-ion batteriesvanadium redox flowtechno-economic analysiscommercial applicationsdegradation modeling

Abstract

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This thesis concerns vanadium redox flow batteries (VRFB), and whether their posited advantages over the more commercially advanced lithium-ion battery (LIB) can translate to improved economic outcomes in realistic use-cases. The key advantage of the VRFB is increased lifetime; the energy storage medium (and major cost component) is simply two solutions of vanadium at differing oxidation states hence here is no scope for the myriad permanent degradation mechanisms that exist in LIB. As such, over a project lifetime VRFB will potentially have lower economic and environmental costs than LIB. A second posited advantage of the VRFB was the low incremental cost of storage duration, allowing longer durations to be more cost competitive. However, VRFB are disadvantaged by lower round-trip efficiency and a higher power capacity cost due to the relatively complex power generating apparatus. In this thesis, bottom up cost modelling for a state of the art VRFB predicted that following cost reductions in LIB over the last 5 years, the cost of incremental usable duration would now be very similar for the two technologies, negating one of the posited benefits. For the full cost-benefit analysis, it was hence important to rigorously define the use-cases and resulting cycle rates.

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Cite This Work

@article{230df28f-9d8d-4ccb-8ea7-c1cf024eb654,
  title={2022   Roberts   Lithium Ion and Vanadium Flow Battery Economics},
  author={Diarmid Roberts},
  year={2026},
  language={en}
}
TY  - JOUR
TI  - 2022   Roberts   Lithium Ion and Vanadium Flow Battery Economics
AU  - Diarmid Roberts
PY  - 2026
LA  - en
ER  -

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