Innovations aimed at reducing the capital costs of thermal energy storage (TES) systems focus on several technological and material advances, as well as operational strategies to improve efficiency and scalability:
Material Innovation
- Development of Low-Cost Storage Materials: Researchers are working on identifying and optimizing very low-cost phase-change materials (PCMs) such as salt hydrates or thermochemical materials instead of more expensive options like waxes. These materials have melting and freezing points tailored to specific temperature ranges, improving TES performance for applications like building heating and cooling while reducing material costs.
System Design and Efficiency
- Scalable and Market-Ready Solutions: Manufacturers like Kraftblock are delivering TES systems that operate at very high temperatures (up to 1,300°C), suitable for industrial processes in steel, glass, and chemical sectors. Such high-temperature TES enables the replacement of fossil-based heat generation with renewables more efficiently and at a lower cost compared to alternatives like hydrogen.
- Use of Waste Heat and Process Steam: TES systems such as ThermalBattery™ enable storage and reuse of waste heat or excess steam from industrial processes, enhancing overall energy efficiency and reducing the need for additional energy input. This leads to lower operational costs and better capital utilization.
Economic and Market Strategies
- Cost Savings on Energy and Emissions: TES systems reduce energy consumption and therefore lower associated costs, including CO2 taxation and certificate expenses in emissions trading schemes, which can represent significant financial burdens for energy-intensive industries.
- Innovation Portfolios Accelerating Cost Reduction: Studies show that targeted innovation in storage technologies can reduce costs substantially (from 12% up to 85%), indicating active research and development efforts focused on affordability and efficiency.
Comparative Cost Improvements
Innovations in TES are driving down levelized costs of storage, for example, molten salt thermal storage can have cost reductions to approximately $0.027/kWh, far below other battery technologies, which translates to reduced capital expense per unit of storage capacity and improved economic viability.
Overall, the main innovations to reduce capital costs in TES systems involve optimizing low-cost thermal storage materials, improving thermal efficiency through waste heat reuse, leveraging high-temperature storage for industrial applications, and advancing technological innovation portfolios that significantly lower system costs. These efforts make TES a competitive and scalable solution for decarbonizing heat-intensive sectors and improving grid flexibility.
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