Financial, market and economic news

Thermal Energy Storage Market | Increasing Demand for CSP to Boost the Market Growth | Technavio

The thermal energy storage market is expected to grow by 1,956.30 MW during 2020-2024. The report also provides the market impact and new opportunities created due to the COVID-19 pandemic. We expect the impact to be significant in the first quarter but gradually lessen in subsequent quarters – with a limited impact on the full-year economic growth.

This press release features multimedia. View the full release here: https://www.businesswire.com/news/home/20201016005452/en/

Technavio has announced its latest market research report titled Global Thermal Energy Storage Market 2020-2024 (Graphic: Business Wire)

Technavio has announced its latest market research report titled Global Thermal Energy Storage Market 2020-2024 (Graphic: Business Wire)

Request challenges and opportunities influenced by COVID-19 pandemic – Request a Free Sample Report on COVID-19 Impacts

Thermal storage enhances the solar plant system’s flexibility by extending the rate of solar electricity generation and improving its coincidence with existing demand. This is accomplished by reducing constraints of ramping and minimum generation levels in CSP plants. The use of thermal energy storage in CSP plants allows generating power in adverse weather conditions as well as with no reduction in the operating efficiency. Additionally, the cost of electricity generation using CSP plants has reduced significantly in recent years. The cost of electricity generation from projects commissioned from 2020 onwards is expected to decrease by up to 70%. These …

Full story available on Benzinga.com

Read More

This website uses cookies to improve your experience. We'll assume you're ok with this, but you can opt-out if you wish. AcceptRead More

Privacy & Cookies Policy