• 3 minutes e-car sales collapse
  • 6 minutes America Is Exceptional in Its Political Divide
  • 11 minutes Perovskites, a ‘dirt cheap’ alternative to silicon, just got a lot more efficient
  • 2 days GREEN NEW DEAL = BLIZZARD OF LIES
  • 2 days The United States produced more crude oil than any nation, at any time.
  • 8 days e-truck insanity
  • 3 days How Far Have We Really Gotten With Alternative Energy
  • 7 days Oil Stocks, Market Direction, Bitcoin, Minerals, Gold, Silver - Technical Trading <--- Chris Vermeulen & Gareth Soloway weigh in
  • 6 days James Corbett Interviews Irina Slav of OILPRICE.COM - "Burn, Hollywood, Burn!" - The Corbett Report
  • 6 days The European Union is exceptional in its political divide. Examples are apparent in Hungary, Slovakia, Sweden, Netherlands, Belarus, Ireland, etc.
  • 8 days Biden's $2 trillion Plan for Insfrastructure and Jobs
  • 8 days "What’s In Store For Europe In 2023?" By the CIA (aka RFE/RL as a ruse to deceive readers)
  • 11 days Bankruptcy in the Industry

Europe’s Battery Storage Boom Is An $84 Billion Investment Opportunity

Europe is set for a boom in battery storage installations with grid-scale capacity expected to jump sevenfold by the end of this decade and represent $84 billion (78 billion euros) in total investment opportunities through 2050, Aurora Energy Research said in a new report this week.

As a key enabler of renewables rollout, battery storage is set for a massive acceleration by 2030, according to Aurora Energy Research’s European Battery Markets Attractiveness Report, which examines 24 countries to determine which offer the most attractive investment opportunities for

Battery Energy Storage Systems (BESS).

Aurora expects Europe’s installed grid-scale BESS capacity to jump from 7.1 gigawatts (GW) as of the third quarter of 2023 to 51 GW by 2030 and 98 GW by 2050.

In total, these capacity additions would represent a cumulative investment opportunity of $84 billion (78 billion euros) through 2050, including repowering opportunities, Aurora noted.

Great Britain, Italy, and Ireland will lead the pack in grid-scale battery storage investment, thanks to solid spreads, strong policy support, and capacity market remuneration, according to Aurora.  

The UK is the most attractive market in Europe, thanks to attractive and stackable revenue streams. Britain also has the most installed capacity as well as the most capacity in the pipeline, Aurora said.

The pipeline of UK energy storage projects jumped by two-thirds over the last 12 months, RenewableUK said at the end of last year. Operational battery storage capacity has grown to 3.5 GW, and the capacity of projects under construction has reached 3.8 GW, RenewableUK’s EnergyPulse Energy Storage report showed. A further 24.5 GW has been consented, 27.4 GW has been submitted in the planning system, and 25.7 GW is at an early stage of development but is yet to be submitted.  

ADVERTISEMENT

Despite the attractiveness of battery energy storage as an enabler of more renewable electricity, “battery markets are challenging to navigate, and developers and investors alike will need to embrace complexity to deliver a compelling business case or keep a look out for public support schemes that can help them get a kick-start in emerging storage markets,” said Ryan Alexander, Research Lead, European Power Markets, at Aurora Energy Research.

By Tsvetana Paraskova for Oilprice.com

More Top Reads From Oilprice.com:



Join the discussion | Back to homepage



Leave a comment

Leave a comment

EXXON Mobil -0.35
Open57.81 Trading Vol.6.96M Previous Vol.241.7B
BUY 57.15
Sell 57.00
Oilprice - The No. 1 Source for Oil & Energy News