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Tech pulseENERGY

State Grid Launches 10 Billion RMB Iron-Air Battery Project: Storage Cost Drops 60%, New Energy Revolution Accelerates

State Grid announces 32 billion RMB investment to build world's largest iron-air battery energy storage power station. Storage cost first drops below pumped storage. Renewable energy penetration expected to exceed 50%.

Overview

State Grid today officially started the "GW-level iron-air battery energy storage" project construction. Phase 1 investment is 32 billion RMB. Building simultaneously in Inner Mongolia, Xinjiang, and Gansu—the world's largest new energy storage power station.

This marks iron-air battery technology officially transitioning from laboratory to large-scale commercialization. The key bottleneck of the new energy revolution—energy storage—welcomes a breakthrough solution.

What is Iron-Air Battery

Iron-air battery is a type of metal-air battery that generates electricity through iron oxidation reaction using inexhaustible oxygen from air.

Core advantages:

  • Abundant raw materials: Iron and air, extremely low cost
  • Extremely high safety: No thermal runaway risk, non-flammable
  • Ultra-long lifespan: Cycle life exceeds 10,000 cycles, calendar life 20 years
  • Environmentally friendly: 100% recyclable, no heavy metal pollution

Cost Comparison

Storage Technology Storage Cost (RMB/Wh) Cycle Life
Lithium-ion battery 1.2-1.8 4,000 cycles
Pumped storage 0.6-1.0 >50,000 cycles
Iron-air battery 0.4-0.7 10,000 cycles

Iron-air battery's kWh storage cost drops below pumped storage for the first time, becoming the most economical long-duration energy storage solution.

Impact on New Energy

Storage breakthrough will directly drive renewable energy penetration:

  • Curtailment rate expected to drop from current 15% to within 5%
  • Solar + storage on-grid price in Xinjiang and Inner Mongolia can drop below 0.15 RMB/kWh
  • National renewable energy penetration expected to exceed 50% in 2028

Global Competition

US Form Energy has built multiple iron-air battery storage projects in the US, but all smaller than this Chinese project. EU immediately announced including iron-air battery in the "Strategic Energy Storage Technology" list, providing policy subsidies.