TES Expects 3.6 Billion USD Growth

Thermal energy storage (TES) is an often unrecognized but important component of the developing market for energy storage systems, Pike Research (Boulder, Colorado, U.S.) emphasizes in a press release.

Most often used to provide cooling capacity for commercial buildings, TES systems are also increasingly seen as an effective means of shifting electricity use from daytime peak periods into less expensive periods of the day or at night, saving money and increasing overall system efficiency.

TES market to grow substantially through 2020, with worldwide revenues of USD 3.6 billion

TES is used in packaged air conditioning, chiller systems, district energy, residential heat storage, and commercial heat storage.

The report forecasts that the TES market will expand at a compound annual growth rate of 13.5% through 2020, resulting in an USD 850 million annual domestic market and cumulative TES capacity of 4,500 MW. Globally, TES is expected to grow substantially through 2020, with worldwide revenues of USD 3.6 billion and added capacity of 3,824 MW in that year.

Source and Read More 

If you want to know more about this and other topics directly from end users of energy storage technologies join us at one of these annual events: The Energy Storage World Forum (Grid Scale Applications), or The Residential Energy Storage Forum, or one of our Training Courses.

LATEST ARTICLES

Product Development: Embracing product safety and compliance

PRODUCT DEVELOPMENT: EMBRACING PRODUCT SAFETY AND COMPLIANCE Recent safety incidents on storage plants have raised concerns about the fire safety of battery storage systems. Such events are extremely rare compared to the cumulated global deployments of energy storage systems, which have reached more than 27 GWh by end of 2020 (Wood Mackenzie 2021). However, for…

Read More

The UK National Energy Grid – A Story of Islands, Trading, and Energy Storage

As first seen in Energy Global, grid software acts as a modern-day map, helping to chart and navigate today’s energy grids; software engineers are tasked with carefully delineating how each region’s energy markets operate. However, looking more closely at energy markets makes clear how unique each market is – each defined by different topography, resources,…

Read More

★REVIEWS

“Probably the most interactive and well organized storage event on the calendar.”

★★★★★

Sales Director, S&C

“Great topics, competent speakers, good networking: keep it like that.”

★★★★★

TLC & SCADA Manager, FRI-EL

“High scientific content, well targeted, perfect organization.”

★★★★★

Expert Technical & Governance, Elia

Excellent networking event. The sponsorship was well worth it.”

★★★★★

Manager, ATL

View More

x