Innovative Technologies : Thermal Energy Storage ​

The way in which energy is generated, stored, transmitted, distributed and used is changing throughout the world. Various factors are driving these changes, including moves to widen access to energy, to make energy supplies more affordable and secure, and crucially to reduce the emissions of greenhouse gas (carbon dioxide, methane, and water vapour are the most important greenhouse gases) emissions associated with our energy systems. International efforts to mitigate climate change have most recently been confirmed in the Paris Agreement, which sets a goal to keep the global average temperature rise to well below 2°C. Higher shares of variable renewable energy (VRE), mainly solar PV and wind power, are entering electricity systems every year. In 2018 around 10% of the power in global energy systems was from VRE generation. To comply with the climate targets in the Paris Agreement, The International Renewable Energy Agency (IRENA) estimates that VRE will see threefold growth by 2030, increasing its share to 35%, and sixfold growth by 2050, whereby VRE would provide more than 60% of global power generation. The deployment of renewable energy sources is a key strategy for decarbonizing the global economy. Solar photovoltaics (PV) and wind power play an increasing role as the capabilities of hydro, biomass or geothermal energy are limited in many countries. In an age where every tiny bit of energy is valued, energy management is indispensable which would control the energy use as well as the cost involved while maintaining comfort conditions and requirements. Energy management is strongly linked with energy efficiency and providing a cost-effective way for decreasing greenhouse gas emissions. In recent years, the magnitude of energy consumption seems to crest from the normal demand and that has to be carefully addressed through implementing energy conservative and energy management techniques. Among several energy efficient schemes, thermal energy storage (TES) technologies are more and more appealing among professionals and engineers. In the scenario of growing energy demand worldwide, the possibility of improving the energy efficiency of TES systems can be achieved from break-through research efforts. The purpose of this study is to review the potential TES technologies and applications in alignment with Paris agreement and UN SDGs (United Nations Sustainable Development Goals). And to show the social, economic and environmental impacts of such technology with case studies. The study starts with problem statement and identification, then explaining TES innovation technologies outlook and market assessment, moving to demonstrating efforts done by Italian startup i-TES and it’s technology readiness level. Finally, conclusions about such technology as being a key enabler to the energy transition scenario. Investments in TES, renewable energy technologies and energy efficiency can improve health and economic infrastructure, enabling short-term recovery post COVID-19 pandemic and align energy development with global climate and sustainability goals. By 2030 TES could experience threefold growth, reaching over 800 GWh of installed capacity globally. And in the next decade investment in the range of USD 12.8 billion to USD 27.22 billion is foreseen for TES specially for power and cooling applications, as per IRENA (International Renewable Energy Agency).