Are Redox Flow Batteries in High Demand?

IDTechEx forecasts that by 2034, the redox flow battery (RFB) market will be valued at US$2.8B.

 

RFBs can store energy for longer durations at a lower levelized cost of storage versus Li-ion, and this is mainly facilitated by their longer cycle life. Demand for long duration energy storage technologies, including RFBs, is expected to increase to facilitate increasing variable renewable energy penetration in the future.

 

This unlocks opportunities for players across the value chain, including material suppliers, RFB developers and utility companies. For instance, various RFB chemistries being developed and commercialized by different players will be partly responsible for overall market growth. Some of these alternative chemistries will be cheaper than commercially deployed vanadium RFBs, and thus attractive to customers.

 

However, in the meantime, will redox flow batteries be in high demand? Several factors will contribute to the rate of RFB installations over the coming years, including player activity, material costs, technical challenges, market applications, among more.

 

This webinar, presented by Conrad Nichols, aims to answer this question, and give an overview of the redox flow battery market, drawing upon research from IDTechEx's newly updated report "Redox Flow Batteries Market 2024-2034: Forecasts, Technologies, Markets".

 

This webinar will cover: