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Providing sustainable energy storage is a challenge that must be overcome to replace fossil‐based fuels. Redox flow batteries are a promising storage option that can compensate for fluctuations in energy generation from renewable energy production, as their main asset is their design flexibility in terms of storage capacity. Current commercial options for flow batteries are mostly limited to inorganic materials such as vanadium, zinc, and bromine. As environmental aspects are one of the main drivers for developing flow batteries, assessing their environmental performance is crucial. However, this topic is still underexplored, as researchers have mostly focused on single systems with defined use cases and system boundaries, making the assessments of the overall technology inaccurate. This review was conducted to summarize the main findings of life cycle assessment studies on flow batteries with respect to environmental hotspots and their performance as compared to that of other battery systems.