1、DECARBONIZING INDUSTRIAL HE AT TO FACE CLIMATE CHANGEIs thermal energy storage the missing link in Europes industrial decarbonization strategy?2024We would like to acknowledge all those who contributed in the review of this Report,especially:Florence Carlot,Vincenzo Ippolito.Amaury Klossa,Chiara Lor

2、eti,Daniel Monzon,Andrea Romboli,Leonardo Rosetto,and Christian WeberSAVERIO CALDANIManaging Partner,Rome&MadridLUIS DEL BARRIO CASTROPartner,MadridIRENE MACCHIARELLIPartner,RomeIGOR MARULLIConsultant,RomeCONTENTEXECUTIVE SUMMARY 31.EUROPEAN INDUSTRIAL HEAT CONSUMPTION 42.DECARBONIZATION STRATEGIES

3、83.TES TECHNOLOGY 124.INSIGHTS FOR UTILITIES 16CONCLUSION 182Decarbonizing industrial heat consumption is crucial to reduce carbon emissions and mitigate the effects of climate change.Currently,the top five heat-demanding industries in the EU chemical&petrochemical;nonmetallic minerals;food,beverage

4、&tobacco;paper pulp,paper&graphic arts;and iron&steel account for more than 80%of heat consumption and urgently need decarbonization strategies.Direct and indirect electrification,carbon capture,utilization,and storage(CCUS),and biomass are among the main technologies for decarbonizing industrial he

5、at.Thermal energy storage(TES)is a potential solution for direct electrification,particularly for industries with process temperatures that reach up to 500C.Key strengths of TES technology include storage opportunities(i.e.,ability to store heat for later use and to integrate non-programmable renewa

6、ble systems such as photovoltaics and wind),ease of installation,modularity,and cost competitiveness.Utilities can seize the opportunity and be pioneers in this market by focusing on testing the technology and building partnerships with vendors to speed up commercial deployment.Additionally,they can