Canada Battery Maker Says Flow Storage Costs to Tumble by Half

Date: Dec 25, 2018


CellCube Energy Storage Systems Inc.
, a Canada-listed maker of batteries that can last for as long as two decades, said the cost of its technology may halve within four years, potentially boosting its uptake over lithium-ion units.

Costs of its vanadium redox flow battery units, which can discharge power for four hours, will decline to $150 per kilowatt hour from $300, President Stefan Schauss said in a phone interview from Toronto this month. Batteries with eight hours of duration will slump to $100 from $200, he said.

Utilities and renewable energy suppliers are increasingly looking to store intermittent wind and sun-generated power to balance out power flows to grids and deploy the electricity when demand peaks. About $620 billion in investment will be required to meet the global energy storage needs that will surge to a cumulative 942 gigawatts by 2040, according to Bloomberg NEF.

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