Thermal energy storage is perfect for building owners looking to lower air conditioning costs

June 22, 2015

The task of cooling the massive number of commercial and residential spaces in the United States puts a heavy strain on the nation's power grid. According to the Department of Energy, air conditioning consumes 5 percent of all the electricity produced in the United States but can go up to a staggering 30 percent on summer days.

Business Energy Advisor pointed out that office buildings larger than 100,000 square feet consume an average of 20 kilowatt hours of electricity per square foot each year. Nearly 15 percent of that energy use is a result of running the building's air-conditioning system, so it's no surprise that air conditioners have become a focal point for businesses interested in lowering their overall operating costs.

Thermal energy storage, especially ice storage, has proven to be a fitting solution for facilities looking to manage out-of-control air conditioning costs. That's just one of the many reasons that the demand for thermal energy storage solutions is expected to ramp up moving into 2019. The Technavio report predicted a compound annual growth rate (CAGR) of nearly 19 percent for global thermal energy storage investments over the next four years, according to the ACHR News.

Building managers can spend less by cooling smarter
One reason that thermal energy storage is so ideal for facilities with high cooling costs is because the technology shifts more expensive daytime energy consumption to less expensive off-peak hours. Energy storage solutions utilize a storage medium such as ice or water to store cooling overnight. Doing this job after the sun goes down is key to how thermal energy storage helps facilities to save money.

Thermal storage technology allows building operators to utilize the cheaper electricity available at night to store cooling. During the day, the stored cooling can partially or completely cool the building and avoid more expensive daytime utility rates. In this way, thermal energy storage provides a straightforward, reliable means of consuming power at a lower cost.

Barriers that still slow the adoption of thermal energy storage
Storing ice during off-peak periods is so effective that The Economist noted that it was strange that the technology is not deployed more broadly for facilities with large air conditioning loads. The news source pointed out that lack of awareness of the technology and its benefits stands as the largest barriers preventing ice-based thermal energy storage from making a mainstream impact.