The
improving economy has led to a high demand for products, which in turn, has
given a major boost to industries across the world. There is a common
perception that cities offer better standards of living, which has resulted in
rapid urbanization. Therefore, growing cities and towns and the establishment
of new industries at a large scale have contributed hugely in the demand for
electricity. To meet such high demand, different energy-generating utilities
are being tried, tested, and deployed, including the concentrated solar power
plant (CSP). At the global level, the highest demand for CSPs was generated
from the Asia-Pacific (APAC) region, and the National Energy Administration of
China reported that nearly 111 CSP projects with a cumulative capacity of 9 GW were
underway. Similarly, in India, two projects with a total capacity of 225 MW are
being installed in the states of Gujarat and Rajasthan. Further, thermal energy
storage systems are being popularized by governments in order to help reduce
load on power grids.
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Thermal
energy storage systems store the excess energy produced and help in filling the
gap generated during the peak demand. They are of the following types: pumped
heat electrical (PHES), concentrated solar power, and ice thermal energy, and
chilled water thermal energy. During
2013–2017, CSPs were installed the most globally. Countries such as the U.A.E.,
Morocco, and Australia have been greatly deploying the advanced CSP systems. These
systems make use of mirrors for concentrating sunlight and converting it into
high-temperature heat. This heat is then used for creating steam for driving a
turbine for generating electricity. A CSP plant contains two parts, first,
which collects the solar energy and converts it into heat, and the second,
which converts the heat energy into electricity. In the coming time, the
fastest growth in demand is expected to be witnessed by the PHES systems. The thermal
energy storage market is predicted to register a 15.9% value CAGR in the
coming years.
Thermal
energy storage systems are based on these technologies, namely sensible heat, thermo-chemical,
and, latent heat. The sensible heat storage technology makes use of the
changing temperature of the material and its heat capacity that occurs during
charging or discharging. A variety of storage media are used, ranging from
earth, sand, to clay and rock; the most common storage media is water. This
technology is most commonly employed in hot water tanks. Its highest adoption
can be attributed to its discharging and charging of heat for umpteen number of
cycles in a storage system. In the coming time, latent heat-based thermal energy
storage systems are expected to register the fastest growth in demand.
The
surging demand for electricity has put an immense burden on all conventional
sources of energy-generation. Therefore, alternatives are being found for
generating electricity and storing it for times when the demand is not being
met or in the case of a grid failure. The new technology is the underground
thermal energy storage (UTES) system. In regions, such as North America and
Europe that have a high presence of salt caverns and aquifers, heavily deploy
these systems. This technology is extensively used for power generation and
underground thermal energy storage. Thus, increasing focus on the UTES
technology can help manufacturers widen their customer base by offering the new
technology to consumers.
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