European energy storage construction

How much energy storage will Europe have in 2023?

Europe has seen its first year when energy storage deployments by power capacity exceeded 10GW in 2023. The eighth annual edition of the European Market Monitor on Energy Storage (EMMES) was published last week by consultancy LCP Delta and the European Association for Storage of Energy (EASE).

What is the biggest energy storage project in Sweden?

Neoen and Nidec announced construction of a 9 MW/93.9 MWh BESS – the largest BESS project in both Sweden and all of Northern Europe. It is expected to enter operation in the first half of 2025. BESS remained the mainstay of energy storage projects over the quarter, with a small number of PHS projects promoted.

How big is the European energy storage industry?

The European energy storage industry has witnessed remarkable growth over the last decade, going from 9MW of project announcements in 2010 up to a total of 5,700MW in 2020 (year to date). Out of these projects, around 1.7GW are operational while the remaining 4GW are either announced or under construction (Figure 1) .

Are European energy storage systems on the rise?

Europe’s utility-scale energy storage systems (ESS) are on the rise, boasting a robust revenue model. The European large storage market is starting to shape up. According to data from the European Energy Storage Association (EASE), new energy storage installations in Europe reached approximately 4.5GW in 2022.

Why is energy storage important in the EU?

It can also facilitate the electrification of different economic sectors, notably buildings and transport. The main energy storage method in the EU is by far 'pumped hydro' storage, but battery storage projects are rising. A variety of new technologies to store energy are also rapidly developing and becoming increasingly market-competitive.

What does the European Commission say about energy storage?

The Commission adopted in March 2023 a list of recommendations to ensure greater deployment of energy storage, accompanied by a staff working document, providing an outlook of the EU’s current regulatory, market, and financing framework for storage and identifies barriers, opportunities and best practices for its development and deployment.