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THERMAL ENERGY STORAGE Outlook

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THERMAL ENERGY STORAGE Outlook ( thermal-energy-storage-outlook )

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Application Industry supply chain and skills Market opportunities Company maturity Enabling infrastructure Power N/A • Create balancing markets, time-of-use tariffs or other incentives that recognise the value that periodic storage provides to the power sector. • Introduce long-term storage revenue mechanisms like power purchase agreements to cover 24/7 demand profiles (e.g. Dubai, South Africa, Chile). N/A • Accelerate penetration of renewables to drive the need for flexibility solutions, such as TES. Industry N/A • Create balancing markets, time-of-use tariffs or other incentives that recognise the value that demand flexibility provides, and help develop the value proposition for thermal storage (and on-site renewables). • Introduce technology certification/recognition by trusted third parties to reduce perceived risk. • Accelerate penetration of solar thermal generation and heat pumps in industry. Cold chain • Support supply chain development (e.g. LAES). N/A • Support enterprises and ecosystems to boost profile of new technologies such as LAES. • Co-ordinate LAES with LNG gasification infrastructure. • Develop LAES-based cold chain. District heating and cooling N/A • Provide ecosystem support to highlight benefits of TES to renewable district energy projects. N/A • Accelerate penetration of renewably powered district heating and cooling schemes as part of integrated systems approach. Buildings N/A N/A N/A • Support development and penetration of heat pumps. • Ensure correct incentives in place for efficient management and adaptation of grids. Note: N/A dennotes that no main needs were identified. THERMAL ENERGY STORAGE 35

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