Electrochemically formed thin film polyaniline (PANI) anode and lead dioxide (PbO2) cathode, obtained from sulfuric acid solution, for potential applications as electrode materials in PANI|H2SO4|PbO2 aqueous based rechargeable power sources, have been studied using cyclic voltammetry and galvanostatic techniques. Based on the investigations of half cell reactions, the simulation of the charge/discharge characteristic of the possible cell has been done.