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.
We're consulting on the policy framework to enable investment in long duration electricity storage. Long duration electricity storage can provide an important contribution to decarbonising our energy system. For example, it can store renewable power and discharge it during periods of low wind.
Looking forward, the International Energy Agency (IEA) expects global installed storage capacity to expand by 56% in the next 5 years to reach over 270 GW by 2026. Different studies have analysed the likely future paths for the deployment of energy storage in the EU.
If you’re interested in the FAQ document from this webinar, please email [email protected]. If you would like to speak to someone at Ofgem about our work on the Long Duration Electricity Storage cap and floor regime, please email [email protected].
These studies point to more than 200 GW and 600 GW of energy storage capacity by 2030 and 2050 respectively (from roughly 60 GW in 2022, mainly in the form of pumped hydro storage). The EU needs a strong, sustainable, and resilient industrial value chain for energy-storage technologies.
Ofgem is the regulator for Long Duration Electricity Storage and oversees implementation of a 'cap and floor' regime for LDES projects, proposed by the Department for Energy Security and Net Zero (DESNZ). The aim of this regime is to stimulate investment in Long Duration Electricity Storage projects.
Real-World Implementations Across Diverse Sectors
Long-duration energy storage (LDES) will play an increasingly important role in decarbonizing the power sector as more variable renewable energy is added to the ... term milestone necessitates federal- and state-level policy support of LDES deployment and integration. While some progress has been made, more work is needed to fully unlock the ...
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