European energy storage agent

How much energy storage will Europe have in 2023?

Europe has seen its first year when energy storage deployments by power capacity exceeded 10GW in 2023. The eighth annual edition of the European Market Monitor on Energy Storage (EMMES) was published last week by consultancy LCP Delta and the European Association for Storage of Energy (EASE).

Why is energy storage important in Europe?

In Europe, there is a growing consensus amongst policymakers that energy storage is crucial to securing affordable and low carbon energy. In May 2022, European Union launched their REPowerEU plan, a part of the European Green Deal, which mandates that 45% of Europe’s energy generation needs to come from renewable sources by 2030.

What does the European Commission say about energy storage?

The Commission adopted in March 2023 a list of recommendations to ensure greater deployment of energy storage, accompanied by a staff working document, providing an outlook of the EU’s current regulatory, market, and financing framework for storage and identifies barriers, opportunities and best practices for its development and deployment.

Why is energy storage a problem in Europe?

The fact that it happens in many European countries is a result of energy storage being seen not only as a stand-alone entity but also as a hybrid between a load and a generator. This is problematic because it makes energy storage less competitive to generating units and consumers, who pay the network charges only once.

What is the European storage database?

With information on assets in over 29 countries, it is the largest and most detailed archive of European storage. While the report is focused on electrical storage, the database holds project information for multiple other storage technologies (e.g. pumped hydro, CAES, gravity, large-scale thermal etc).

How much energy storage capacity does the EU need?

These studies point to more than 200 GW and 600 GW of energy storage capacity by 2030 and 2050 respectively (from roughly 60 GW in 2022, mainly in the form of pumped hydro storage). The EU needs a strong, sustainable, and resilient industrial value chain for energy-storage technologies.