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Emerging Trends in Thermal Energy Storage 

  • September 2015
  • 68 pages
  • Frost & Sullivan
Report ID: 3312070

Summary

Table of Contents

Emerging Trends in Thermal Energy Storage : High Energy Density Latent and Thermochemical Systems Dominate Future of Thermal Energy Storage

Thermal energy storage (TES) is a system to store thermal energy- TES can be differentiated into three different categories, namely sensible, latent and thermochemical- The main drivers that propel development of TES system are advancements in material sciences and the emergence of smart thermal grid- Although some of the TES system is already mature especially sensible, adoption of this technology is still slow due to lack of awareness from stakeholders to employ this technology as a method to achieve energy efficiency- Furthermore, high cost of new technology and the recent dramatic drop in oil prices have inhibited or slowed the adoption of TES due to less compelling economics- By using Analytical Hierarchy Process (AHP), emerging TES systems based on latent and thermochemical have been identified as the future of TES systems because it shows remarkable performance capabilities- However, strengthening legislation and standardization frameworks need to be done to see wider adoption of TES systems in the future, especially in Europe and North America-

Key Findings

Thermal energy storage is a system to store thermal energy for future use- There are three main TES systems: sensible, latent and thermochemical TES-
TES technology is already mature and is regarded as a major energy efficiency and emission reduction technology for buildings- However, adoption or deployment this technology is slow as governments are more focused on energy efficiency in electrical generation- In terms of cost, ultimately, TES system should cost between USD - /kWh-
Technological drivers for TES systems are advancements in material sciences and the emergence of a smart thermal grid; however, the lack of stable materials has hindered TES systems technologically- In terms of market, adoption of TES system is driven by active support from the government and concerns about global warming- Nonetheless, the high cost of new technology, drop in oil prices, and lack of awareness on TES inhibit adoption of TES-

Though some standardization and legislations for TES are already in place, the standardization and legal frameworks are still not constructed well enough to support TES systems fully-

A considerable amount of research and development can be seen in the TES space; however, almost all the initiatives converge into the common theme of proving the feasibility of TES systems either in terms of technology or market-

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