A modified vanadium compound characterized in that vanadium sulfate (III), or a mixed vanadium compound of vanadium sulfate (III) and vanadyl sulfate (IV) contains excessive sulfuric acid other than sulfate group composing the vanadium sulfate (III) or the vanadyl sulfate (IV), and when the modified vanadium compound is used, a redox flow battery electrolyte can be prepared easily.
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