In a new report the research firm also anticipates significant growth for ice-based thermal energy storage (TES) custom systems, which it predicts will rise from $15 million in revenue in 2011 to $37 million by 2016.
Under a more aggressive growth scenario, this market could reach as high as $92 million during the same period, the firm said.
Ice-based TES rooftop units in North America will also experience strong growth, increasing from $12 million in 2011 to $123 million by 2016 under a baseline forecast scenario.
The market momentum toward greater energy efficiency in commercial buildings, the proliferation of smart grid technologies, and the growth of renewable energy installations both on a distributed basis as well as at the utility scale are all driving heightened interest in the opportunity for energy storage in commercial buildings.
Buildings represent a large portion of total energy consumption, and many of their occupants are actively seeking ways of managing their energy costs through efficiency measures as well as innovative means of optimising their expenditures under time of use (TOU) electricity rates and other variable pricing structures.
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