According to a new report from Pike Research, a sharp increase in interest in energy storage will open new opportunities for thermal storage, and the market for TES will see steady growth over the next several years. Installed TES capacity in the United States, which stood at 2.7 gigawatts (GW) in 2011, will increase by 4.5 GW by 2020, nearly tripling to a total of 7.2 GW, the report concludes.
“With the exception of pumped hydroelectric storage, which dwarfs the installed capacity of all other commercially available energy storage technologies, TES is currently the most common form of storage available,” says research director Kerry-Ann Adamson. “Although other storage media, especially batteries, are expected to grow significantly faster than TES, TES revenue will continue to increase with global revenue from new TES installations forecast to surpass $3.5 billion by 2020.”
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