Expected ROI of VRFB energy storage project in Sweden 2026

Are VRFBs a promising energy storage candidate?

With a plethora of available BESS technologies, VRFBs are widely considered a promising energy storage candidate. The uniqueness of VRFB is the possibility to set independently the power of the battery by the size of the device and the energy for the battery by the size of the tank for liquid reagents.

What is the global demand for VRFB?

The cumulative global demand of VRFB by 2030 is around 111 GWh, with annual demand of about 27 GWh, or 2.4% of the total required stationary storage capacity for that year — a CAGR of 41% from 2022 to 2030 — according a a World Bank Group report.

Who makes VRFBs in South Africa?

Local manufacturer Delectrik has delivered VRFBs locally and started to deliver for export, as well. Bushveld Energy achieved financial close and started construction on a minigrid featuring 3.5MW of solar PV and a 4MWh VRFB from CellCube. The minigrid is an IPP that sells energy to a mine. The VRFB used vanadium mined by Bushveld in South Africa.

Is VRFB based in China?

While the majority of large VRFB sites and supply chain activities are on-going in China, there is significant non-China based activity. In some instances, such as the number of VRFB OEMs and smaller systems, activity is greater outside of China. Nearly every region of the world is seeing activities by VRFB companies and the supply chain.

Why is the VRFB supply chain important?

Nearly every region of the world is seeing activities by VRFB companies and the supply chain. The number of activities along the supply chain is increasing, which is important to allow for start up battery companies to deliver more and larger VRFBs. Plus, multiple established companies are entering the VRFB industry and its supply chain.

Can VRFB be recycled?

On another side, VRFB is aqueous, which implies lower costs on thermal management in comparison with other BESS. In parallel, vanadium electrolyte can be 100% recycled. Existing VRFB still have a low energy density. Our collaborative project is focused on this problem.