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The technology at the most advanced stage of development is Pumped Thermal Energy Storage. There are no commercial operating projects in Europe with these technologies as of end of 2023. Projects like that will require additional support, as the current revenue stack is not enough to justify the initial investment.
One of Europe’s larger markets, residential storage is becoming more attractive in GB with VAT set at 0% until 2027 and a co-location rate of ~ 20%. Strong policy support for storage drives growth across the residential and FoM segments in the short-term. Greece’s ambitious energy targets will drive further growth towards 2030
Terna’s storage procurement mechanism will be used to try and meet Italy’s 11GW utility scale storage target by 2030. Tax breaks for residential storage will decrease to 70% of system costs in 2024 and 65% in 2025 before ending in 2026. expected in 2024 as Capacity Market projects commission.
This research is part of our Energy Storage Research Service which provides insight into key markets, competitors and issues shaping the sector. The European Association for Storage of Energy (EASE), established in 2011, is the leading member-supported association representing organisations active across the entire energy storage value chain.
Storage installations in 2023 were a peak that will likely not be seen again in the short-term. In Germany, as stock availability for Solar PV and batteries improved in 2023, the market was able to meet a lot of the extreme unserved demand from 2022, reaching an extremely high peak of more than 500k installations.
Real-World Implementations Across Diverse Sectors
We investigate the storage investment decision of community electrical and thermal energy storage for an energy community with an industrial consumer and an urban …
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