Novel thermal energy storage in the European Union : status report on technology development, trends, value chains & markets : 2023

This report analyses the technology status, value chain, and markets of novel thermal energy storage (TES) technologies. While most technologies currently have low technology readiness levels, they hold substantial potential for storing energy at low costs in the future. TES technologies are used to match the consumption and production of heat and cold, yet they can also effectively integrate the thermal networks with the wider energy system. This would make the entire energy system more flexible and efficient. The TES technologies, currently on the market, have a low thermal energy density, while the novel technologies have higher energy density, which means they can store heat for longer periods of time and require less space. These novel TES technologies have the potential to contribute to the decarbonisation of the energy system.