We are happy to share the newly released reports by the Joint Research Centre of the EU (EU Science, Research and Innovation), specifically the one on “Novel Energy Storage in the European Union” to which our colleagues Antoine Koen and Marlène Siméon provided insights on the technical and economic landscape of thermal storage (including for industrial heat) as well as the performance requirements and challenges ahead for long duration energy storage systems as a crucial asset for grids.
Some key takeaways from the Novel Energy Storage in the European Union report are:
✅ Scientific publications on energy storage continue to grow, marking this out as a key technology of interest for the global energy transition
✅The EU leads in public investments in energy storage technologies and leads the world in the thermal energy storage market, for example dominating in molten salts with 78.5% share of the global market. Note that TES technologies are expected to grow at a CAGR of 7.5% until 2032.
✅All classes of companies are involved, from the latest startups on the smaller end to historical multinational equipment manufacturers at the higher end.
NB: the scope of the report was focused on electromagnetic, mechanical, and thermal technologies.
You can find the full report on Novel Energy Storage in the European Union and the other reports here!
We are glad to have been able to contribute and look forward to the next collaboration!
