Market Capacity of Solar Thermal Storage

How much solar thermal energy is available?

The total solar thermal energy storage capacity available amounts to 185 GWhth. Solar thermal energy has been manufactured and installed in Europe since the 1970’s. Over these four decades, the cumulated installed capacity has been continuously increasing.

How much solar thermal energy is available in Europe?

This represents an increase of 3.4% over the previous year, higher than the growth registered in 2018 (2.4%). The total solar thermal energy storage capacity available amounts to 185 GWhth. Solar thermal energy has been manufactured and installed in Europe since the 1970’s.

What is thermal energy storage?

Shifting consumer preference toward adaptive, efficient, and durable centralized cooling system have urged the deployment of thermal energy storage across the HVAC applications. Moreover, the thermal energy storage technology is being widely used for comfort cooling owing to growing demand for climate-controlled buildings.

Are thermal energy storage systems a viable solution for CSP projects?

However, renewable energy sources such as solar and wind have intermittent nature of supply. To counter this intermittency nature of large-scale renewable deployment, thermal energy storage systems provide a viable solution as they can be integrated with CSP projects.

What is the future of thermal energy storage in building walls?

The ongoing R&D is also focused on implementing the thermal energy storage techniques to be implemented in building walls by employing the PCMs in air vents and plasters. The increasing government initiatives coupled with technological advancement initiatives adopted by various vendors are anticipated to boost the market over the forecast period.

Why is solar heat storage so popular?

Sensible heat storage accounted for the largest revenue share of 46.2% in 2019. This can be attributed to rising demand for solar thermal systems, along with applicability across large scale HVAC systems.