The latest report from Aurora Energy Research has recognized the United Kingdom, Italy, and Ireland as leading investment countries in electricity storage.
The European battery sector is gaining momentum, with installed capacity expected to double to 51 GW by 2030, presenting an investment opportunity worth €78 billion (£66.3 billion) by 2050.
The report indicates the United Kingdom as the leader in electricity storage capacity, having the highest installed capacity and forecasting a four-fold increase by 2030.
This growth is supported by promising revenue sources.
Italy has also set ambitious goals, aiming to achieve a battery capacity of 9 GW by 2030.
Meanwhile, investments in Ireland under the I-SEM program are becoming more attractive due to DS3 tariffs.
Spain and Greece present themselves as lucrative markets, driven by strong social support and upcoming capacity allocation auctions.
Ryan Alexander, Head of European Power Market Research at Aurora Energy Research, commented, “The grid-scale energy storage market is growing exponentially in the coming years. It’s not surprising – energy storage is one of the key tools enabling the transition to zero-emissions energy, and the complex cost-revenue dynamics create significant investment opportunities.”
Eva Zimmermann, Lead for Flexible Energy at Aurora Energy Research, added, “Batteries are an indispensable driver of renewable energy development. However, the attractiveness of this market depends on various factors. Elements such as risk appetite, investment scope, and preferred model are just as crucial as market design and a full understanding of the future development of the electricity market.”
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The source of the article is from the blog reporterosdelsur.com.mx