Europe to continue to lead thermal energy storage installs
March 17, 2015 | By
Barbara Vergetis Lundin
Between 2014 and 2020, the global thermal energy storage market will reach $1818.8 million -- up from $627.6 million in 2013, according to Transparency Market Research (TMR). Driving the market, they say is the rising demand for sustained energy solutions for day-to-day requirements, as well as consumption of energy and depleting energy sources. Thermal energy technologies, including latent, sensible and thermochemical heat, minimize energy consumption, thereby increasing the supply of energy via efficient utilization of renewable sources of energy. Europe leads in thermal energy storage capacity installations, and is expected to continue to make large investments in solar thermal energy to fuel the region in the coming years.The North America thermal energy storage market is anticipated to see moderate growth in the years to come. The global thermal energy storage installed capacity stood at 2,038.3 MW in 2013 and is anticipated to reach 6,070.2 MW by 2020, according to TMR. For more: © 2015 FierceMarkets, a division of Questex Media Group LLC. All rights reserved. http://www.fierceenergy.com/story/europe-continue-lead-thermal-energy-storage-installs/2015-03-17 |