Scientific Achievement
Levelized cost is an important assessment metric that should be considered in addition to capital cost when determining the potential value of battery systems. Here, we contemplate the vanadium redox flow battery (VRFB) whose symmetric chemistry and open architecture enable periodic system maintenance (e.g. rebalancing) which, in turn, adds economic value.
Significance and Impact
The modeling framework developed provides a systematic means of evaluating and optimizing VRFB operation and maintenance throughout its lifetime, allowing for practical considerations such as capacity sizing, materials selection, rebalancing schedule, and financing schemes. This tool is flexible and can be extended to nonaqueous RFB chemistries of interest to JCESR.
Research Details
- There are tradeoffs to consider between increases in upfront costs and decreases in operating costs (or vice versa). The upfront and long-term costs provide different sets of information necessary for economic valuation.
- The vanadium electrolyte leasing scheme shows promise, as it has the potential to lower both upfront and levelized costs.
