It Is Expecting The China’s VRFB Market To Hit 4.5GW In Annual Deployments By 2030

“Shanghai Securities News China Securities News (Reporter Chen Yukang) EVTank, a research institution, and Ivey Economic Research Institute recently jointly released the “White Paper on the Development of China’s Vanadium Battery Industry (2022)”. The white paper believes that vanadium batteries can increase the power of the stack and increase the number of stacks to increase the power, and increase the amount of electricity by increasing the electrolyte, which is convenient for the expansion of the battery scale. It has excellent performance in the field of large-scale long-term energy storage. application prospects.
According to EVTank data, the newly installed capacity of vanadium batteries in China will be 0.13GW in 2021. In 2022, a large number of domestic vanadium battery energy storage projects will start construction, and it is expected that the newly installed capacity will reach 0.6GW throughout the year. In the future, under the influence of various factors such as the continuous investment of government subsidies, the mature development of the industrial chain, and the cost reduction of scale effect, vanadium batteries will transition from policy-oriented to market-oriented by virtue of their excellent characteristics, and their penetration rate will gradually increase. EVTank predicts that the new scale of vanadium batteries will reach 2.3GW in 2025, and the new increase will reach 4.5GW in 2030. By then, the cumulative installed capacity of vanadium battery energy storage projects will reach 24GW, and the new market size that year will reach 40.5 billion yuan.”