Redflow Limited, a publicly-listed Australian company (ASX: RFX), produces small 10kWh zinc-bromine flow batteries that tolerate daily hard work in harsh conditions. Redflow batteries are designed for high cycle-rate, long time-base stationary energy storage applications in the telecommunications, commercial & industrial and high-end residential sectors, and are scalable from a single battery installation through to grid-scale deployments. Redflow batteries are sold, installed and maintained by an international network of energy system integrators. Redflow’s smart, self-protecting batteries offer unique advantages including secure remote management, 100 per cent daily depth of discharge, tolerance of high ambient temperatures, a simple recycling path, no propensity for thermal runaway and sustained energy delivery throughout their operating life.
Brisbane-based Redflow reports it will launch its residential energy storage offering in late March, including details of the appearance, pricing and performance of its home batteries.
In an announcement to the ASX yesterday, Redflow (ASX:RFX) also stated that it expects its residential offering to be applicable for international markets.
Australian company Redflow is charged up to meet growing demand for robust long-life batteries that enable both homes and businesses to store electricity generated by their solar panels.
A recent report by the Climate Council states that Australia is predicted to become one of the world’s largest markets for battery storage due to its high cost of electricity, the large number of households with solar panels and Australia’s excellent solar resources. The research by Morgan Stanley says that half of surveyed households were interested in solar systems with battery storage on the basis of $10,000 battery systems with a payback of 10 years, creating a market potentially worth $24 billion.
This means Australia is becoming a battery battleground with global giants such as Tesla and Enphase targeting it as an early market for their respective batteries.
Redflow, an Australian Stock Exchange-listed company (ASX:RFX) which has commercialised its innovative flow battery for use by enterprise, business and residential customers, welcomed this global focus on Australia as the sign of a market that is taking off.
Redflow Chairman Simon Hackett said Tesla’s entry into the market in mid 2015 had made the energy storage market “sexy”. “I believe that, in future years, 2015 will be seen as the year that the renewable-energy storage sector hit its inflection point,” he said.
Australian energy storage specialist Redflow has advised the country’s beleaguered mining companies to deploy renewable energy with on-site power storage to cut energy costs at remote mine sites.
As iron ore and coal prices have halved while metals such as copper and aluminium fell to near six-year lows, miners are increasingly looking for ways to maintain their profitability or even viability.
Redflow is an Australian Stock Exchange-listed company (ASX:RFX) that has developed and commercialised innovative Zinc-Bromide Modules (ZBMs) flow batteries that can be used everywhere from individual homes to grid-scale storage applications.
Redflow CEO Stuart Smith said that embracing renewable energy coupled with energy storage could assist miners to drive down the cost of their energy expenditure. “Despite mining’s current decline, Australia will remain a major supplier of coal, iron ore and metals well into the future,” he said.