European energy storage battery prices

How many new battery energy storage systems will be installed in Europe?

The latest analysis by SolarPower Europe shows that 17.2 gigawatt hours (GWh) of new battery energy storage systems (BESS) will be installed in Europe in 2023, supplying 1.7 million additional European households with electricity - an increase of 94% compared to 2022.

What is the market outlook for battery storage in Europe?

According to the “European Market Outlook for Battery Storage 2024-2028” by SolarPower Europe, battery storage systems with a capacity of 35.8 GWh were installed in the EU at the end of 2023. In addition to photovoltaics, growth was primarily driven by home batteries.

What are the benefits of battery energy storage in Europe?

Increasing the use of renewables in the energy mix allows energy imports to be reduced, with clear benefits for Europe’s energy independence and security. The decarbonisation of the energy mix and reductions in overall CO2 emissions are other clear, positive outcomes of an increased use of Battery Energy Storage in Europe.

Which country has the highest battery storage capacity in Europe?

It was closely followed by Italy with a record 3.7 GWh (+86%) and the UK with 2.7 GWh (+91%). For the years 2024 to 2028, SolarPower Europe forecasts further growth in the European battery storage market, albeit at a slightly lower level, to a total capacity of 78 GWh in 2028.

How will the European battery storage market grow in 2028?

For the years 2024 to 2028, SolarPower Europe forecasts further growth in the European battery storage market, albeit at a slightly lower level, to a total capacity of 78 GWh in 2028. The industry association expects annual market growth of 30% to 40%, which will be driven primarily by large-scale battery storage systems.

What is batteries Europe?

Batteries Europe, launched in 2019, is the technology and innovation platform of the European Battery Alliance, run jointly by the Commission and stakeholders in the battery industry.