Europe poised for Battery Storage investments surge19 Feb 2024 14:06
there’s a chance to see an estimated sevenfold increase to more than 50 gigawatts in capacity connected to transmission networks by 2030, according to aurora energy research cited in this bloomberg news report. that’ll help store more power when it’s abundant, distribute it when it’s scarce and align governments with net-zero emissions goals.
europe is about to get a burst of activity in battery storage projects, with the uk, ireland and italy leading investment across the region.
the battery trend is accelerating in europe on the wake of the us inflation reduction act, which offers investment tax credits for domestic solar, battery and electric-vehicle factories. another example of the ramp-up is in australia, where utility-scale installations will more than double this year.
in europe, the uk is forecast to *****uple energy storage capacity by 2030. britain has added more large-scale capacity in 2022 than any other nation, according to the european association for storage of energy industry group.
“france, germany, poland are seeing what’s happening in the uk and saying, ‘great, batteries work,’” peter kavanagh, chief executive officer of harmony energy storage. “let’s embrace and change policy to enable them.”