Why should you invest in battery storage in Europe?

In Europe, the capacity of renewable energy sources is growing very rapidly, while traditional power plants are slowly being decommissioned. That’s creating a unique new opportunity for investors amid the emerging demand for battery storage, which provides balance to electricity markets.

How can the EU benefit from home-grown wind & solar?

EUobserver Coupling renewables and clean flexibility growth, the EU can benefit from abundant home-grown wind and solar, reduce dependence on imported fossil energy, and avoid costs.

How many megawatts does a battery storage system use in Germany?

PV plus battery storage led the way with 724 megawatts (MW), followed by onshore wind plus storage at 475 MW. According to SolarPower Europe, 11 percent of the 0.8 GW of large-scale battery storage systems totalling 1.1 gigawatt-hours (GWh) installed in Germany between 2021 and 2023 were combined with renewable energy plants, mainly solar parks.

Is energy storage a good investment in Europe?

Compared to classic renewables, energy storage has really only become an investable asset in Europe over the last few years on the back of technology advances, market price signals, and government support mechanisms.

How does solar power affect battery storage in the EU?

Years of strong solar growth and high gas prices have increased electricity price volatility across the EU, strengthening opportunities for battery storage. In turn, batteries can increase power demand at peak solar times, supporting solar revenues.

Could the EU save €9bn by capturing excess wind and solar?

In 2030, the EU could avoid gas costs worth €9bn by capturing excess wind and solar. Between August 2023 and July 2024, nine EU countries saw solar alone exceeding 80% of their hourly domestic demand. Germany could have avoided 36 GWh of expensive fossil power and up to €2.5mn fuel costs in June 2024 alone with 2 GW more of additional batteries.