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Molten Salt Thermal Energy Storage

"Molten Salt Thermal Energy Storage Market to Reach US$2.5 Billion by 2023, Focus on Renewable Energy and Effective Energy Storage to Drive Global Demand - Transparency Market Research"

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"In current times, tapping into renewable energy sources and aiming for maximum utilization of the energy produced will be sustainable in the long-run, says a recent market study by Transparency Market Research (TMR). In this endeavor, to conserve energy for future use, the trend to store energy in specialty units has come to the fore, which has enabled the global molten salt thermal energy storage (TES) market's estimated rise at a phenomenal 24.70% CAGR from 2015 to 2023. The market had a valuation of US$266.2 million in 2014 and will be valued at US$2.5 billion by 2023, says the report. The report is titled "Molten Salt Thermal Energy Storage (TES) Market - Global Industry Analysis, Size, Share, Growth, Trends and Forecast 2015 - 2023".

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The report says that worldwide, the need for sustainable energy solutions, wherein renewable energy and thermal energy storage technologies are important elements, is boosting the demand for thermal energy storage systems. Molten salt TES systems can be installed in buildings, districts, and towns, wherein energy generated can be conserved for future use. With the utilization of molten salt TES systems, the dependency on conventional energy sources reduces substantially and optimum efficiency of energy systems is attained, which in turn helps fill the demand-supply gap in the energy sector."

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