Back in 2017, GTM Research published a report on the state of the U.S. energy storage market through 2016. The study projects that by 2021 deployments of stored energy — a combination of residential, non-residential, and utility systems — will grow to over 2 GW, over 10 times greater than current levels. Such a drastic increase in deployment would, according to estimates, lead to an energy storage market worth $2.8 billion.
David Hart and Alfred Sarkissian of George Mason University studied grid-scale batteries in the United States and reported their findings to the U.S. Department of Energy in 2016. One major takeaway from the study stated that lithium-ion batteries accounted for about 95% of deployed systems in the grid-scale battery market. Since that time, however, redox-flow and zinc-hybrid ion batteries have emerged as significant technologies in the market.
Redox-flow batteries
Flow batteries have a lower energy density than a comparable lithium solution and are typically characterised by a larger footprint, or the area of land required for a particular storage device or system. However, the footprint is not a drawback or determining factor of the viability of a project. For example, utility-owned property can usually accommodate stacked tanks (15 to 20 feet high).
In these cases, four-hour flow battery systems can have a smaller footprint than a comparable lithium-based storage system. The weight of lithium battery containers typically makes stacking impractical.
Bushveld Minerals Limited (LON:BMN), together with its subsidiaries, engages in the exploration and development of mineral projects in South Africa. It operates through three segments: Vanadium and Iron Ore, Coal Exploration, and Vanadium Mining and Production.
