Potential of the Thermal Energy Storage System in Peak Shaving

This chapter focuses on peak shaving and the role of thermal energy storage in reducing the peak energy demand. Even though a considerable amount of additional energy is harvested and supplied from renewable power sources, it is not reliable because of intermittent availability. It is well known that buildings from different phases consume a major part of global energy. The cooling and heating needs of buildings contribute to a significant amount of energy demand. Thermal energy storage is an attractive solution to match the peak demand by load leveling. Peak shaving can be achieved through integrating thermal energy storage systems in the buildings by various methods, which enhance the energy-saving potential and effective energy utilization. Recent development and a current research scenario provide necessary knowledge on advancement in thermal energy storage and its wide range of applications. The different techniques adopted for thermal energy storage integration with buildings for various domestic applications are also discussed in this chapter. This chapter discusses the overview of energy demand and energy consumption by buildings. Peak energy demand is a major issue to be focused on while dealing with energy demand and supply. Thermal energy storage is an attractive option that aids temporary energy storage in the form of thermal energy. Energy demand is defined as the energy consumed by all human activities. It influences the amount of energy used, the location and type of fuel used, and the characteristics of the energy system and technology. The important sectors of the global economy contributed to the major part of global energy demand. The energy transition depends on the method of energy storage, consumption in the different sectors of the global economy. Energy storage provides an alternative option for reducing peak energy demand. During a low-energy consumption period, the energy is stored, and when there is high energy consumption or peak energy demand, this stored energy is used to match the increased load.