Europe expands energy infrastructure - Records record increase in energy storage capacity in 2024
Europe marked its eleventh consecutive year of record battery energy storage installations in terms of capacity, with 21.9 GWh (gigawatt hours). According to the SolarPower Europe update, the new capacity was 15% higher than in 2023, having effectively doubled over several years.
The battery fleet ended December at 61.1 GWh. The growth rate in 2024 was 56%, compared to 94% recorded a year earlier.
The study region consists of the European Union, the United Kingdom and Switzerland. The EU alone closed 2024 with 18.5 GWh of new energy storage capacity.
"If Europe has already entered the solar age, the era of energy storage has just begun. Now is the time for European decision-makers to place batteries at the center of a flexible and electrified system," stated sources from SolarPower Europe.
They called on the European Commission to redouble its efforts and adopt an action plan. "The recent power outage in the Iberian Peninsula reminds us why this is important," the organization's officials stressed.
In the most likely scenario, 29.7 GWh of batteries will be installed this year, which translates into an annual increase of 36% in new capacity and 49% in total. The report predicts a six-fold increase, reaching 118 GWh added by 2029. This would bring the total battery storage systems to 399 GWh, of which 334 GWh in the European Union.
However, this is significantly below the levels required to meet the flexibility needs of an energy system driven by renewables, the authors of the annual report warned. A study showed that the EU needs 780 GWh by 2030 to fully support the transition.
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