Energy storage capacity to increase 5-fold by 2030 - Despite growth, Europe fails to meet stated targets
Battery storage capacity in Europe is expected to increase by about fivefold by 2030, bringing increasing benefits to major energy companies, project developers and traders. The cost of new projects is also expected to fall.
The use of wind and solar has increased and accounts for about a third of Europe's energy production, but because these renewable sources are not constant, they have driven the demand for batteries that provide backup.
At the same time, battery technology has made advances, allowing smaller battery packs to store greater amounts of energy and consequently reducing costs.
However, even the expected capacity increase is unlikely to meet the demand to balance national power grids, according to industry estimates.
Aurora Energy Research's forecast shows an increase of over 50 gigawatts (GW) by 2030, representing investments worth around €80 billion. This would not be enough according to the European Energy Conservation Association, which estimates that 200 GW will be needed by 2030.
A record 3.7 GW of projects were added in 2024, bringing total battery capacity in Europe to 10.8 GW, according to data from Aurora Energy Research.
On the Old Continent, renewable energy has left many investors unhappy. Technical issues, supply chain problems, rising costs and planning battles have reduced profits for wind turbine manufacturers.
But battery storage offers multiple ways to make money. One way is for project operators to secure ancillary contracts from grid operators, who pay them to help balance the system. Capacity market contracts, for example, pay generators or battery owners to be available when power demand is high.
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