Thermal Energy Storage Market to Reach $3.6 Billion Worldwide by 2020

A recent Yahoo press release highlighted a recent report from Pike Research that forecasts a total revenue from worldwide sales of Thermal Energy Storage (TES) to grow steadily over the remainder of this decade, reaching $3.6 billion by 2020.  Thermal energy storage (TES) is most often used as an effective means of shifting electrical peak load use from daytime peak periods to less expensive periods of the day or at night, saving money, stabilizing load on HVAC equipment, stabilizing load on power plants and increasing overall power generation & distribution system efficiency.


The report “Thermal Energy Storage”, analyzes the market for thermal energy storage, concentrating on five major applications that currently define the commercial marketplace for thermal storage: thermal storage for heating, ventilation and air conditioning in commercial buildings; district energy systems for cooling and, in some cases, heating; turbine inlet cooling to limit generation power losses; utility and grid support applications; and high-temperature storage at concentrated solar power generation facilities.

Pike Research’s analysis finds that the annual U.S. market for incremental TES capacity totals $268 million, with 246 megawatts (MW) of new capacity installed in 2011 in five market segments: packaged air conditioning, chiller TES systems, district energy, residential heat TES, and commercial heat TES. The report forecasts that the TES market will expand at a compound annual growth rate of 13.5% through 2020, resulting in an $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 $3.6 billion and added capacity of 3,824 MW in that year. Read the Yahoo Press Release....

RGEES, LLC is manufacturer of PCM based Cold Chain Refrigerants.
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