Vanadium redox flow batteries (VRFBs) are emerging as a potential alternative to lithium-ion batteries for energy storage, particularly in utility-scale applications. VRFBs offer advantages such as safety, scalability, and longer life cycles, but face challenges including lower energy density and higher costs, projected to reach USD 500 per kWh by 2026. The technology could help diversify energy storage solutions amid geopolitical concerns over lithium supply chains.
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