Batteries, Other renewables, System Operator

Thermal Energy Storage

Thermal energy storage (TES) is an often unrecognized but important component of the developing market for energy storage systems.

Most often used to provide cooling capacity for commercial buildings, TES systems are also increasingly seen as an effective means of shifting electricity use from daytime peak periods into less expensive periods of the day or at night, saving money and increasing overall system efficiency.

Thermal Storage for HVAC in Commercial Buildings, District Cooling and Heating, Utility and Grid Support Applications, and High-Temperature Storage at CSP Facilities.

Newer forms of TES, including molten salt storage, may be used with concentrated solar power generation facilities to store energy collected in daylight hours for later use.

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.

This Pike Research report analyzes the global market for thermal energy storage systems, concentrating on five major applications that currently define the commercial marketplace for thermal storage: thermal storage for heating, ventilation and air conditioning (HVAC) 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. In addition to comparing TES technologies and examining the drivers and barriers for the TES market, the study includes profiles of more than two dozen key industry players as well as forecasts for revenue and capacity through 2020.

Key Questions Addressed:
  • What is Thermal Energy Storage and how is it used?
  • How does TES compare with other storage technologies?
  • What are the primary applications and market segments for TES systems?
  • What new regulatory policies are increasing TES opportunities?
  • Where is TES used besides in the United States?
  • What new markets are opening for TES technologies?
  • What are the market forecasts, in capacity and revenue, for TES through 2020?
Who needs this report?
  • Energy storage technology vendors
  • Energy service companies (ESCOs)
  • Commercial building owners and managers
  • Renewable energy project developers
  • Utilities
  • Government agencies and policy makers
  • Investor community

Table of Contents

1. Executive Summary

1.1   Thermal Energy Storage

1.2   Thermal Energy Storage in Context with Other Storage

2. Market Issues

2.1  Thermal Energy Storage

2.1.1     Types of Thermal Energy Storage: Sensible Heat and Latent Heat

2.1.1.1     Sensible Heat

2.1.1.2     Latent Heat

2.1.2     Thermal Energy Storage in Market Context

2.1.3     Market Status of Thermal Energy Storage

2.2   Defining the Thermal Energy Storage Marketplace

2.2.1     Thermal Energy Storage Markets and Leaders

2.2.2     Thermal Energy Storage in Commercial Buildings in the United States

2.2.2.1     Thermal Energy Storage Drivers for End Users

2.2.2.1.1.             Load Shifting for End Users

2.2.2.2     Other Considerations for the End User

2.2.2.2.1.             Energy Use and Reliability for Data Centers

2.2.2.3     Thermal Energy Supply Drivers for Utilities

2.2.2.3.1.             Other Considerations for Utilities

2.2.2.3.2.             Utility Incentives for Thermal Energy Systems

2.2.2.3.3.             Time-of-Use Rates and Other Schemes

2.2.2.3.4.             Time-of-Use around the World

2.2.2.4     Case Study: Florida Power & Light’s Thermal Energy Storage Incentive Program

2.2.2.4.1.             Other Utility Incentives

2.2.2.4.2.             Permanent Load Shifting Considered

2.2.2.4.3.             Beyond Incentives: Partnering with Utilities for Thermal Energy Storage

2.2.2.5     Barriers to Thermal Energy Storage in Commercial Buildings

2.2.2.6     Allaying Myths about Thermal Energy Storage

2.2.2.7     Thermal Energy Storage for Commercial Buildings and Households in Japan

2.2.2.7.1.             Japan Energy Post-Fukushima

2.2.3     District Energy Systems with Storage

2.2.3.1     Measuring Thermal Energy Storage in District Energy

2.2.3.2     District Cooling in the Arabian Gulf

2.2.3.3     District Heating in Europe

2.2.4     Thermal Energy Storage for Turbine Inlet Cooling

2.2.4.1     Benefits of Thermal Energy Storage with Turbine Inlet Cooling

2.2.4.2     Barriers to TIC Development

2.2.4.3     TIC/TES in the Desert

2.2.5     Thermal Energy Storage and Utility Grid Support

2.2.5.1     Market Maturity

2.2.5.2     Grid Services Provided by Storage

2.2.5.2.1.             Power in Numbers: Electric Thermal Storage and the Grid

2.2.6     Thermal Energy Storage and Concentrated Solar Power

2.2.6.1     Drivers for Solar Thermal Energy Storage

2.2.6.2     Barriers to Thermal Energy Storage in Concentrated Solar Power

2.2.6.3     Thermal Energy Storage in the Solar Fields

2.3   Thermal Energy Storage in Policy and Law

2.3.1     United States

2.3.2     The Storage Act – S. 3617/HR 4096

2.3.3     California Proceedings

2.3.4     Texas Proceedings

2.3.5     European Union

2.3.6     Asia Pacific

2.3.6.1     Japan

2.3.6.2     Korea

3. Technology Issues

3.1   A Mature Technology

3.2   Water and Ice

3.2.1     Types of Ice Thermal Energy Storage

3.3   Research into Phase Change Materials

3.4   DOE Grants for Thermal Energy Storage and Concentrated Solar Power

3.5   High-temperature Molten Glass

3.6   Using Building Mass as a Storage Medium

4. Key Industry Players

4.1   California Energy Storage Alliance

4.2   Electricity Storage Association

4.3   International District Energy Association

4.4   Texas Energy Storage Alliance

4.5   Abengoa Solar

4.6   Baltimore Aircoil Company

4.7   BrightSource

4.8   Caldwell Energy

4.9   Calmac

4.10 Chicago Bridge & Iron

4.11 Clean Urban Energy

4.12 CoolSolutions Company

4.13 Cristopia Energy Systems

4.14 Cryogel

4.15 DC Pro Engineering, LLC

4.16 Dunham-Bush

4.17 Evapco

4.18 Fafco, Inc.

4.19 FineTex ENE

4.20 Goss Engineering

4.21  Ice Energy

4.22 Natgun Tanks (DN Tanks)

4.23 SolarReserve

4.24 Steffes Corporation

4.25 Sunwell Technologies Inc.

4.26 TAS Energy

5. Market Forecasts

5.1   Thermal Energy Storage Markets Reassessed

5.2   Thermal Energy Storage in the United States

5.2.1     Heat Storage in the United States

5.2.2     Turbine Inlet Cooling in the United States

5.2.3     Concentrated Solar Power

5.2.4     Total U.S. Thermal Energy Storage

5.2.5     Commercial Value of Thermal Energy Storage in the United States

5.2.6     Forecasting U.S. Markets Through 2020

5.3   Thermal Energy Storage in Europe

5.4   Thermal Energy Storage in Asia Pacific

5.5   Thermal Energy Storage in Middle East/Africa

5.6   Thermal Energy Storage Market Outlook for Worldwide Markets

6. Company Directory
7. Acronym and Abbreviation List
8. Table of Contents
9. Table of Charts and Figures
10. Scope of Study, Sources and Methodology, Notes

List of Charts and Figures

  • Smart Building Managed Services Spending, World Markets: 2012-2020
  • Thermal Energy Storage Capacity Added by Region, World Markets: 2020
  • Estimated Global Energy Storage Installed Capacity without Pumped Hydro: 2011
  • Total U.S. Energy Storage by Technology without Pumped Storage: 2011
  • 24-Hour Building Load with and without TES (Hypothetical 3,000 KW Peak Load)
  • Additional Thermal Energy Storage Installed Capacity by Application, United States: 2011
  • Thermal Energy Storage Annual Revenues by Sector, United States: 2011-2020
  • Summer Peak Electrical Loads in a Commercial Building: 2010
  • Contribution of Air Conditioning Load to Peak Demand
  • Load Leveling versus Peak Shifting
  • Florida Power & Light’s Thermal Energy Storage Program, Participation by Customer Type: 2012
  • Buildings with Thermal Energy Storage by Technology, Japan: 1990-2010
  • Peak Load Shifted with Thermal Energy Storage, Japan: 1993-2010
  • District Cooling Project, Utility and Campus: 1981-2010
  • Value of TES in District Cooling, UAE
  • Development Status of District Cooling with Thermal Energy Storage, GCC Countries: 2012
  • Power Output Loss without Turbine Inlet Cooling
  • Electric Output Increase from Using Turbine Inlet Cooling
  • Energy Storage Technologies, Discharge Duration vs. Rated Power
  • Energy Storage Technologies, Discharge Duration vs. Rated Power
  • Steffes GIETS and ACE Controls
  • Impact of 30% ITC on TES Development: 2011-2015

List of Tables

  • Recap of Building Energy Management System Market Drivers and Hurdles
  • Thermal Energy Storage Installed Capacity by Application, United States: 2011
  • Thermal Energy Storage Capacity Added by Region, World Markets: 2020
  • New Capacity Addition of All Energy Storage Technologies by Technology, United States:  2020
  • New Capacity Revenue of All Energy Storage Technologies by Technology, United States:  2020
  • New Capacity Addition of All Energy Storage Technologies by Technology, Western Europe:  2020
  • New Capacity Revenue of All Energy Storage Technologies by Technology, Western Europe:  2020
  • New Capacity Addition of All Energy Storage Technologies by Technology, Asia Pacific:  2020
  • New Capacity Revenue of All Energy Storage Technologies by Technology, Asia Pacific:  2020
  • Electricity Use in Buildings, United States: 2003
  • Electricity Use by Data Centers, United States: 2000-2010
  • Utility Thermal Energy Storage Incentive Programs, United States: 2012
  • California IOUs Permanent Load Shifting Pilots, Targets and Budgets 2007-2014
  • Thermal Energy Storage in Commercial Buildings by Technology, Japan: 2009
  • District Cooling Systems, World Markets: 1981-2010
  • District Cooling Systems by Technology, World Markets: 1990-2005
  • District Energy with Storage United States versus Non-United States: 1990-2005
  • Announced and Planned District Cooling with Thermal Energy Storage in GCC Countries: 2012
  • Five Turbine Inlet Cooling/Thermal Energy Storage Projects, TAS Energy: 2012
  • Specifications of Storage Technologies
  • Inherent Characteristics of Thermal Energy Storage by Technology Type
  • Technologies for Commercial Ice Storage Systems
  • Percentage of Primary Energy Use for Cooling by Equipment 1.4 Quads: United States
  • Percentage of Primary Energy Use for Cooling by Equipment, 36 billion SF: United States
  • Thermal Energy Storage Installed Capacity by Application, United States: 2012
  • Thermal Energy Installed Capacity Market Price by Application, United States: 2011
  • Thermal Energy Storage Revenues by Application, United States: 2011
  • New Capacity Installation Thermal Energy Storage by Application, United States: 2011-2020
  • Thermal Energy Storage Incremental Sales Revenue by Application, United States: 2011-2020
  • Peak Energy Avoided by Thermal Energy Storage, Europe: 2020
  • Total Thermal Energy Storage in Commercial Buildings, Japan: 2010 and 2020
  • Thermal Energy Storage in Commercial Buildings, Peak Energy Avoided, Japan: 2010 and 2020
  • Total Energy Avoided by TES in Cooling, Japan: 2020
  • Total Energy Avoided by TES in Cooling, Asia Pacific (Non-Japan): 2020
  • Thermal Energy Storage Sales Revenues and Avoided Capacity by Region, World Markets: 2020
  • New Capacity Installation Thermal Energy Storage by Application, United States: 2011-2020
  • New Capacity Investment in TES by Application, United States:  2011-2020

 

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