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Chile Thermal Energy Storage (TES) Industry Analysis
The Grid-scale/Utility Scale Thermal Energy Storage System (TESS) industry in Chile is currently experiencing a surge in construction of new projects. This is due to the increasing demand for renewable energy sources and the need for energy storage solutions to balance the intermittent nature of renewable energy.
One of the major drivers of this growth is the government's commitment to increasing the share of renewable energy in the country's energy mix. Chile has set a target of generating 7% of its electricity from renewable sources by 25, and TESS systems are seen as a key component in achieving this goal.
Another driver is the decreasing cost of TESS technology. As the technology becomes more widely adopted, economies of scale are driving down the cost of construction and operation, making TESS systems more competitive with traditional fossil fuel-based energy storage solutions.
The industry outlook for TESS in Chile is positive, with a number of large-scale projects currently under construction or in the planning stages. These projects are expected to provide a significant boost to the country's renewable energy capacity and help to reduce its dependence on fossil fuels.
In conclusion, the Grid-scale/Utility Scale Thermal Energy Storage System (TESS) industry in Chile is experiencing significant growth due to the increasing demand for renewable energy sources and the need for energy storage solutions. The government's commitment to increasing the share of renewable energy in the country's energy mix, along with the decreasing cost of TESS technology, are major drivers of this growth. The industry outlook is positive, with a number of large-scale projects currently under construction or in the planning stages.
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