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Evidence Gathering: Thermal Energy Storage (TES) Technologies based systems below 300 litres (0.3 m3) cost below £1,50022. The majority of hot water cylinders sold in the UK are below 300 litres and this has been reflected in the products plotted for this comparison in Figure 7. In Figure 7 overall 41 systems were plotted showing that prices range from £2,500 to £3,000 for integrated (hot water and space heating) tank systems above 1 m3 / 1,000 litres to below £500 for direct domestic hot water tanks below 0.5 m3 / 500 litres. Based on the analysis of these 41 systems an average price of £3,400 / m3 for direct domestic hot water tanks and 3,950 / m3 for integrated (hot water and space heating) tank systems was found. This makes hot water tanks the cheapest TES solution (upfront cost) in the residential and small commercial sector at the current point in time. With regards to cost reduction potential, it is unlikely that significant cost improvements will be made, simply because these systems are an established, straightforward technology manufactured at scale. Sales have been relatively stable over the past 10 to 15 years and this is widely expected to continue. Figure 7 – The comparison of volume and cost of 41 small hot water tank systems (<2 m3 / 2000 litres) shows a clear correlation between the two. The majority of products sold in the UK are below 500 litre in volume (also reflected in graph) and based on the cost evaluation the majority of systems cost below £1,50022 2.5 2.0 1.5 1.0 0.5 0.0 Comparison of cost and volume of selected small hot water tank systems £0 £500 £1,000 £1,500 £2,000 £2,500 Price (£ excl. VAT) £3,000 £3,500 Direct Domestic Hot Water Only Integrated TES for space & hot water heating 22 Price refers to hot water tank systems without controls and excluding VAT. Price data was gathered using publically available retailer, distributor and manufacturer information. Average prices for direct domestic hot water tanks were around half compared to integrated systems for both hot water and space heating. 38 Volume (m3)PDF Image | Thermal Energy Storage (TES) Technologies
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