Europe’s annual battery storage deployments doubled in 2023, but the pace of adoption is still much slower than required, according to SolarPower Europe. The continental trade association for solar PV industries published new analysis of the sector in its report, European Market Outlook for Battery Storage 2024-2028.
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.
Walburga Hemetsberger, CEO of SolarPower Europe, said, “ Growing battery storage and flexibility represents a fundamental shift from our current grid-centric view of the market. It impacts not only the way we plan infrastructure and the way we operate the system, but also the markets we engage with.
Over 3 GWh of residential battery storage systems were installed across Europe by the end of 2020, with the annual market showing a strong growth in the range of over 50% year-by-year. In Germany, over 60% of new residential solar PV systems are installed together with battery storage.
In order to deploy renewables and to release their potential for ensuring a stable and secure energy supply, Europe needs to work to overcome the intrinsic limits of renewables. One solution to these challenges is Battery Energy Storage.
The residential segment accounted for 63% of this capacity, followed by large-scale battery systems (21%), and commercial & industrial systems (9%). Germany led the market with 34% of the European market share in 2023, followed by Italy (22%), and the United Kingdom (15%).
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