Molten Salt Thermal Energy Storage market is driven by growing usage in solar power plants

The Molten Salt Thermal Energy Storage market involves technology that uses molten salts to store energy in thermal form. It acts as a thermal battery which charges and discharges electricity through a power cycle. Molten salt thermal energy storage (TES) systems work by heating a molten salt mixture, typically a eutectic combination of sodium and potassium nitrates, to temperatures between 250–565 °C.

The global molten salt thermal energy storage market is estimated to be valued at USD 2.02 Bn in 2024 and is expected to reach USD 3.84 Bn by 2031, exhibiting a compound annual growth rate (CAGR) of 9.6% from 2024 to 2031.

The Molten Salt Thermal Energy Storage (TES) Market Demand is driven by the growing demand for renewable energy sources and the increasing focus on grid reliability. Molten salt technology enables solar power plants to operate flexibly, similar to natural gas power plants, ensuring a consistent power supply even when the sun isn't shining. Countries worldwide are promoting renewable power generation to reduce carbon emissions.

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