CATALYSING THE GLOBAL OPPORTUNITY FOR ELECTROTHERMAL ENERGY STORAGE - PROMISING NEW TECHNOLOGIES FOR

CATALYSING THE GLOBAL OPPORTUNITY FOR ELECTROTHERMAL ENERGY STORAGE PROMISING NEW TECHNOLOGIES FOR BUILDING LOW-CARBON, COMPETITIVE AND RESILIENT ENERGY SYSTEMS EXECUTIVE SUMMARY FEBRUARY 2024 With the support of Decarbonisation of industrial heat is necessary to avoid the worst 1 impacts of climate change and solutions are available today. [...] 2 ETES technologies are commercially available and electrify industrial heat processes with the additional ability to store energy in the form of heat. [...] 3 ETES could reduce the equivalent of up to ~40% of 2022 global gas use and the equivalent of up to 14% of global energy-related greenhouse gas (GHG) emissions by mid-century. [...] However, in Denmark, France, Germany, the Netherlands, the United Kingdom and the Texas ERCOT region in the United States, the levelised cost of heat (LCOH) of ETES is higher than that of natural gas boilers. [...] Catalysing the Global ETES Opportunity PAGE 5 9 Technology providers can act now by increasing awareness of ETES, and by working with industry users to ensure the optimal configuration of the ETES asset for the specifics of the site.