Not surprisingly, it is expected that by 2030 the market associated with this technology will reach a value of more than 700 million euros worldwide. All this, driven mainly by the suitability and attractiveness of this technology for use in strategic applications and industries of the future of the energy transition, such as those associated with renewable energies.
This is because redox flow batteries are particularly appropriate for storing energy from renewable sources such as the sun and wind, which are intermittent in nature. Their ability to store large amounts of energy for extended periods without significant capacity degradation allows them to compensate for the variability of these energy sources. In addition, they can release energy during peak demand, which facilitates a more efficient integration of renewable energies into the power grid.
In addition, these batteries are also expected to play a critical role in other uses, such as stabilizing the power grid by regulating power quality and mitigating voltage fluctuations. This is a crucial factor in preventing blackouts and ensuring a constant and reliable power supply. These features are also what position them as a truly attractive alternative for other applications such as data centers and telecommunications, which are clearly on the rise in the increasingly digitalized society in which we live.
Different alternatives with different levels of maturity
As detailed in previous blog posts, a redox flow battery is a type of rechargeable battery that stores energy in two liquid electrolyte solutions, which circulate through a membrane-divided system. Energy is generated by the reduction and oxidation of these electrolytes as they pass through electrochemical cells during the charging and discharging processes. The distinctive feature of these batteries is that the electrolyte, where the energy is stored, is separated from the reactor or electrochemical cell, allowing them to handle large amounts of energy for extended periods of time.
Based on this concept, and as with other electrochemical storage technologies, when we talk about redox flow batteries we are not referring to a single type of battery. This alternative encompasses different approaches that use different materials as the basis for their development.
Currently, vanadium redox flow batteries are probably the most mature solution on the market. They have high durability and stability, can be recharged and discharged simultaneously and do not decrease in capacity over time. This makes them ideal for large-scale energy storage applications such as renewable energy management and grid stabilization.
To a lesser level of maturity, we also find other solutions such as those based on organic quinone compounds, which are abundant and would allow accessible solutions from a cost point of view. Similarly, technologies based on zinc and combinations of hydrogen and bromine are some of the other approaches that are taking place within the science in order to establish redox flow technologies.