Thermal Energy Storage Market An Objective Assessment Of The Trajectory Of The Industry By 2030

 

Thermal Energy Storage Market Overview:

Thermal Energy Storage Market is expected to grow at a CAGR of 12.50% during the forecast period (2022 - 2030).

Thermal Energy Storage Technology: A Comprehensive Overview

Thermal energy storage (TES) technology is a means of storing and using heat energy. This technology has been gaining traction in recent years, particularly as a means of integrating renewable energy into the grid. By storing excess energy generated by renewable sources such as solar and wind, thermal energy storage systems can help overcome the intermittency issues that often arise with these sources of energy.

There are several types of thermal energy storage, each with its unique advantages and disadvantages. In this blog, we'll discuss these types of thermal energy storage, their applications, and some of the companies that are leading the way in this technology.

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Types of Thermal Energy Storage

1. Sensible heat storage: This type of storage involves the storage of heat in a solid or liquid material, such as water or rock. The energy is stored in the form of sensible heat, which is the heat that can be felt or sensed. Sensible heat storage is widely used in district heating and cooling systems.
2. Latent heat storage: This type of storage involves the storage of heat in a phase change material (PCM), which absorbs or releases heat as it changes from a solid to a liquid or vice versa. PCM's have a high latent heat of fusion, which means they can store a large amount of energy in a small volume. Latent heat storage is commonly used in solar thermal power plants.
3. Thermochemical storage: This type of storage involves the storage of heat in a chemical reaction. Thermochemical storage can store a large amount of energy in a small volume, making it ideal for space-limited applications. However, it requires high temperatures to activate the chemical reaction, making it less efficient than other types of storage.

Thermal Energy Storage Applications

1. Solar thermal power plants: Thermal energy storage is a critical component of solar thermal power plants, which use mirrors to concentrate sunlight onto a receiver to produce steam that drives a turbine to generate electricity. By storing excess heat generated during the day, these power plants can continue to produce electricity even after the sun goes down.
2. District heating and cooling: Thermal energy storage is commonly used in district heating and cooling systems, which distribute hot or cold water through a network of pipes to heat or cool buildings. By storing excess heat or cold, these systems can maintain a consistent temperature in buildings, even during periods of peak demand.
3. Industrial processes: Thermal energy storage is also used in industrial processes, such as smelting and refining, to store excess heat generated during the production process. This stored heat can then be used to preheat incoming materials, reducing energy consumption and improving efficiency.

Thermal Energy Storage Companies

1. BrightSource Energy: BrightSource Energy is a leading developer of solar thermal power plants, which use thermal energy storage to generate electricity even after the sun goes down. The company's flagship project is the 377 MW Ivanpah Solar Electric Generating System in California.
2. CALMAC: CALMAC is a manufacturer of thermal energy storage systems for commercial and industrial applications. Its IceBank system stores excess energy in the form of ice, which is then used to cool buildings during periods of peak demand.
3. SolarReserve: SolarReserve is a developer of utility-scale solar thermal power plants with integrated thermal energy storage. The company's flagship project is the 110 MW Crescent Dunes Solar Energy Plant in Nevada.

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Thermal Energy Storage Efficiency

The efficiency of a thermal energy storage system is typically measured by its round-trip efficiency, which is the ratio of the amount of energy that can be withdrawn from the system to the amount of energy that was originally stored.