The latest report from ResearchAndMarkets.com, Molten Salt Thermal Energy Storage Market – Forecasts from 2021 to 2026, predicts a compound annual growth rate of 15.65% over the forecast period.
The main factors responsible for the growth of the market are an increase in energy consumption, government initiatives to drive renewables uptake, as well as the decrease in the cost per kilowatt for the storage of energy.
According to the report, the deployment of renewable energy technology in many markets decreased at the start of 2020 by policy uncertainty, lack of funding and COVID-19. However, it is estimated that in 2021, the economy will be revived and many delayed projects will resume driving technology growth.
