PNNL

Abstract

A cost model was developed for all vanadium and iron-vanadium redox flow batteries. Electrochemical performance modeling was done to estimate stack performance at various power densities as a function of state of charge. This was supplemented with a shunt current model and a pumping loss model to estimate actual system efficiency. The operating parameters such as power density, flow rates and design parameters such as electrode aspect ratio, electrolyte flow channel dimensions were adjusted to maximize efficiency and minimize capital costs. Detailed cost estimates were obtained from various vendors to calculate cost estimates for present, realistic and optimistic scenarios. The main drivers for cost reduction for various chemistries were identified as a function of the energy to power ratio of the storage system. Levelized cost analysis further guided suitability of various chemistries for different applications.