Technavio has published a market analysis report "Global Molten Salt Thermal Energy Storage Market 2012 - 2016" where it's analysts forecast the Global Molten Salt Thermal Energy Storage market to grow at a CAGR of 17.25 percent over the period 2012-2016. Technavio is the syndicated research wing of Infiniti Research, with over 1,800 off-the-shelf reports on niche and upcoming technology markets.
The key vendors dominating this market space are Abengoa Solar S.A., Areva S.A.S., General Electric (GE) Energy LLC., and Pratt and Whitney Rocketdyne Inc. The Global Molten Salt Thermal Energy Storage market has been witnessing the increase in R&D initiatives with it's application within concentrating solar power systems. NREL collaborates with industry to further the research and development (R&D) of concentrating solar power (CSP) plant and solar thermal technologies.
Concentrating solar power (CSP) technology involves a power tower system using a large field of flat, sun-tracking mirrors known as heliostats to focus and concentrate sunlight onto a receiver on the top of a tower. A heat-transfer fluid heated in the receiver is used to generate steam, which, in turn, is used in a conventional turbine generator to produce electricity. Some power towers use water/steam as the heat-transfer fluid. Advanced designs are experimenting with molten salt because of its superior heat-transfer and energy-storage capabilities. The energy-storage capability, or thermal storage, allows the system to continue to dispatch electricity during cloudy weather or at night.
Learn more about the use of molten salt as a key component for sustainability for concentrated solar power systems.