Flow Battery Storage Costs Drop to $50/kWh: Now on Par with Lithium-Ion
ESS Inc. announced its iron-chromium flow battery storage system cost has dropped to $50/kWh, matching lithium-ion costs for the first time, with a cycle life exceeding 25,000 cycles.
Flow Battery Storage Costs Drop to $50/kWh: Now on Par with Lithium-Ion
US energy storage company ESS Inc. announced on March 4 that its next-generation iron-chromium flow battery storage system has reached a cost of $50 per kilowatt-hour, matching lithium iron phosphate battery storage costs for the first time.
Flow batteries' core advantages lie in ultra-long cycle life and safety. ESS's iron-chromium flow battery exceeds 25,000 cycles (lithium-ion typically achieves 3,000-5,000 cycles), and the electrolyte cannot burn or explode. Battery capacity can be independently scaled by enlarging electrolyte tanks, making it ideal for long-duration storage of 4+ hours.
ESS CEO Eric Dresselhuys said: 'Flow batteries have finally caught up with lithium-ion on cost, but with 5x the lifespan. For grid storage projects requiring daily charge-discharge cycles, flow battery lifetime costs are just one-fifth of lithium-ion.'
The US Department of Energy has designated flow batteries as a preferred technology for long-duration energy storage. California and Texas have deployed multiple 100 MW-scale flow battery storage projects.
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