Australian battery storage maker Redflow to target residential and mining market after cost reductions take cost of storage close to grid tariffs. Predicts grid may be relegated to role of back-up.
Brisbane-based Redflow says it is fast-tracking the rollout of its battery storage products to the residential and mining sector, in yet another sign that storage costs are falling quicker than most imagined.
Redflow, which is bringing it unique zinc bromide flow battery to market, says its new products are 40 per cent cheaper than its first generation products, and are now approaching grid tariffs in some markets.
So much so, that CEO Stuart Smith says the grid, the backbone and chief source of electricity more than a century, could soon be relegated to the role of mere “back-up”. This, of course, has huge implications for existing utilities – be they network operators, retailers, and/or generators.
“We believe we have a disruptive, scalable technology whose applications are continually expanding,” Smiths says… read more (via RenewEconomy)