Energy storage in Europe - statistics & facts
Energy storage will be key to the establishment of highly decarbonized energy systems - based on renewable sources - that are also reliable and financially viable. By storing excess electricity over different lengths of time, from seconds to days, and potentially even months, energy storage can stabilize power demand and supply fluctuations.
Historically, the most widely used technology for energy storage worldwide has been pumped hydropower. But with costs on a downward trend, batteries and hydrogen are currently in the spotlight. In Europe, installed battery storage capacity is projected to grow nearly sixfold in the next decade.
The United Kingdom is forecast to be the undisputable European leader in grid-scale energy storage capacity additions until 2030, with Spain, Germany, and Italy poised to be leading the energy storage capacity within the EU by that year. Italy, the UK, and Germany were among the countries with the largest planned electrochemical energy storage capacity in the world in 2022.
European storage development
In May 2022, the European Commission launched REPowerEU, a plan to reduce energy dependence in the region and push forward with decarbonization. Although the policy was brief on the role and technologies of energy storage and did not set a specific strategy in that regard, it did recognize the sector’s relevance to Europe’s long-term energy targets. Energy storage requirements in the EU were estimated at almost 200 gigawatts by 2030, in order to meet the region’s renewable energy target.The United Kingdom is forecast to be the undisputable European leader in grid-scale energy storage capacity additions until 2030, with Spain, Germany, and Italy poised to be leading the energy storage capacity within the EU by that year. Italy, the UK, and Germany were among the countries with the largest planned electrochemical energy storage capacity in the world in 2022.
