Navigant: North American deployments of thermal energy storage expected to near 70MW in 2027

Thursday November 29, 2018 0 comments Tags: Boulder, Navigant Research, Ricardo Rodriguez, thermal storage

BOULDER -- Annual power capacity deployments of commercial and industrial thermal energy storage systems in North America are expected to increase from 6.6 MW in 2018 to 68.8 MW in 2027, representing a compound annual growth rate of 29.8%, according to a new report from Navigant Research.NavigantNEWlogoUSE

The report examines the global market drivers and barriers influencing the deployment of behind-the-meter residential and commercial and industrial (C&I) thermal energy storage systems (TESSs).

As the behind-the-meter (BTM) distributed energy storage market matures, residential and C&I customers are seeking low-cost distributed energy storage systems tailored for specific sector needs.

BTM TESSs, which store thermal energy by heating or cooling a storage medium so that the stored energy can be used later for heating and cooling applications, are emerging as an important technology that can provide cost and energy savings for system owners and the power grid

“Primarily a strategic technology, BTM TESSs enable owners to optimize energy bill management strategies, participate in utility-sponsored demand response programs, and meet corporate or government sustainability goals,” said Ricardo Rodriguez, Navigant research analyst.

“These systems also provide resilient backup energy and deliver grid benefits to regional transmission organizations/independent system operators and local distribution system utilities.”

The emerging confluence of technical, environmental, economic, and regulatory factors is driving interest in thermal energy storage technologies, particularly grid-interactive water heaters (GIWHs) and ice-based systems, according to the report.

However, the market for residential and C&I TESSs will be highly concentrated in select markets over the coming years due to the diversity of utility programs and rate structures, source energy composition of electricity grids, and variations in the heating and cooling demands of countries across the globe.

The report, Thermal Energy Storage, analyzes the global market drivers and barriers influencing the deployment of BTM residential and C&I TESSs. The study examines the key issues and customer dynamics that are driving increased interest in TES technologies, specifically GIWHs and ice-based systems.

Global market forecasts, broken out by segment and region, extend through 2027. The report also examines the major regional trends related to residential and C&I TESSs, as well as the competitive landscape.

An Executive Summary of the report is available for free download on the Navigant website.