LCOE for solar-plus-storage already below 2018 spot prices in Europe, study finds

September 4, 2019
LinkedIn
Twitter
Reddit
Facebook
Email
Europe, at night, seen from space. Image: NASA.

A study co-written by industry figures has put forward new claims of the cost-competitiveness of European solar-plus-storage, amid predictions that grid parity will unfold continent-wide by 2025.

In work carried out with the support of PV research institute ETIP PV, researchers examined six solar markets in Europe’s north and south and found levelised costs of electricity (LCOE) fell below average spot prices across all already in 2018.

Assuming weighted average costs of capital of 7%, solar grid parity was already present last year in Málaga an LCOE of €24 (US$26.44) per MWh, in Helsinki (€42/MWh) and cities in four other EU countries, the study said.

Solar competitiveness – understood as the gap between average spot market prices and lower PV LCOEs – was most pronounced in high-irradiation Spain and Italy, followed by the UK, France, Germany and Finland, the analysis claimed.

This article requires Premium SubscriptionBasic (FREE) Subscription

Try Premium for just $1

  • Full premium access for the first month at only $1
  • Converts to an annual rate after 30 days unless cancelled
  • Cancel anytime during the trial period

Premium Benefits

  • Expert industry analysis and interviews
  • Digital access to PV Tech Power journal
  • Exclusive event discounts

Or get the full Premium subscription right away

Or continue reading this article for free

The report was authored between Dr. Eero Vartiainen – solar technology manager at Finnish state-run developer Fortum – and researchers from Finland’s LUT University, Belgium’s Becquerel Institute, Spain’s Tecnalia and others.

To read the full version of this story, visit PV Tech.

The prospects and challenges of European solar amid alliances with storage will take centre stage at Solar Media’s Large Scale Solar Europe 2020, to be held in Lisbon on 31 March and 1 April 2020

24 February 2026
InterContinental London - The O2, London, UK
This isn’t just another summit – it’s our biggest and most exhilarating Summit yet! Picture this: immersive workshop spaces where ideas come to life, dedicated industry working groups igniting innovation, live podcasts sparking lively discussions, hard-hitting keynotes that will leave you inspired, and an abundance of networking opportunities that will take your connections to new heights!

Read Next

Sponsored
November 25, 2025
In the rapidly evolving US energy storage sector, companies must navigate a complex web of policy changes, supply chain challenges, and evolving customer needs.
November 25, 2025
There is a “healthy pipeline of projects in development” across Europe’s energy storage sector, but the technologies are as yet “significantly underutilised” below their potential.
Premium
November 24, 2025
The low prices and strict operational requirements in Italy’s recent MACSE auction for BESS have brought asset management and operational execution into the spotlight.
November 21, 2025
In a major week for European BESS deal-making, project acquisition and financing deals have been done in the Poland, Germany, Finland, the UK and Romania for grid-scale projects totalling well over 1GW of capacity.
November 20, 2025
We hear from the co-founder and CEO of optimiser Suena Energy Dr. Lennard Wilkening about the evolution of BESS asset management in Europe, including the impact of artificial intelligence (AI).