Molten Salt Thermal Energy Storage Market | Size, Share, Analysis, Research Report



Molten salt thermal energy storage market

Molten salt thermal energy storage technology refers to the use of molten salt mixture in thermal energy storage systems (ESSs) to store heat generated by concentrated solar power (CSP). The heat is converted into electricity with the help of steam generators. As per the latest market research report published by Technavio, the global molten salt thermal energy storage market size will grow by 660 MW during 2019-2023. The report analyzes the market’s competitive landscape and offers information on several companies including Abengoa, Acciona, S.A., ENGIE, SENER group, and SolarReserve, LLC.

Download the free sample report @ http://bit.ly/2mhSJ3W

Key Trends in molten salt thermal energy storage market:

A major factor driving the growth of the global molten salt thermal energy storage market is cost savings by ESSs. The awareness of energy storage systems has been developing over the past decade owing to the increasing adoption of renewable energy sources.

ESS are used in a range of market segments including residential houses, utilities, and commercial and industrial companies. They are used in utilities to balance the unexpected power demands. However, commercial and industrial building operators are the major users of ESS as they are cost-effective.

Zero energy building (ZEB) is gaining popularity in several countries due to the mandates and regulations on the adoption of ZEBs by governments. The Ministry of Economy, Trade, and Industry of Japan will provide fixed subsidies for new zero energy home builders and will underwrite one-third of the cost of retro filling of the existing homes.

According to IEA, Japan has set the targets to achieve the zero-emission status in standard newly built houses and public buildings by 2020 and average zero emission in newly constructed houses and buildings by 2030. 

Likewise, California (US) has set a target of converting 100% of the all-new homes in the state to zero net energy homes by 2020. The increased adoption of ZEBs will drive the use of CSP to produce heat. This heat is stored using molten salt thermal energy storage systems and is converted into electricity whenever required. 

Therefore, the development of ZEBs will impact the growth of the global molten salt thermal energy storage market at a CAGR of 4.41% during the forecast period. These are the important trends in the molten salt thermal energy storage market, to know the complete and in-depth analysis and forecast of this market get the complete report by clicking the link below.

Get the Complete Report @ http://bit.ly/2mcDOYJ

Location: United States

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