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Slovakia Thermal Energy Storage (TES) Industry Analysis
The Grid-scale/Utility Scale Thermal Energy Storage System (TESS) industry in Slovakia 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 achieving a 14% share of renewable energy in the country's final energy consumption by 22. This has led to the implementation of various policies and incentives to encourage the development of renewable energy projects, including TESS.
Another driver is the decreasing cost of TESS technology, which has made it more economically viable for utilities to invest in large-scale energy storage systems. This has also led to an increase in the number of companies entering the market, which has resulted in more competition and innovation.
The industry outlook for TESS in Slovakia is positive, with continued growth expected in the coming years. This is due to the increasing demand for renewable energy and the need for energy storage solutions to support the integration of renewable energy into the grid.
In conclusion, the Grid-scale/Utility Scale Thermal Energy Storage System (TESS) industry in Slovakia is experiencing a period of growth, driven by government policies, decreasing technology costs, and increasing demand for renewable energy. The outlook for the industry is positive, with continued growth expected in the coming years.
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