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

Premium
January 22, 2026
Saudi Arabia and the UAE have emerged as two of the world’s most prominent energy storage markets, with mega-scale projects announced and moved forward at a staggering pace over the last two years. But what does the next phase look like?
January 22, 2026
Gore Street Capital has completed a first close for its GS EU Fund SCSp, which will target battery storage investments mainly in the European Union.
January 21, 2026
Amazon has been approved as the buyer of the 1.2GW Sunstone solar project in Oregon, one of the largest solar PV projects in the US.
January 21, 2026
Another roundup of European grid-scale BESS project news, led by MORE and Zenobe putting Greece and UK projects into operation, and major project financings/construction starts by Acacia in France, Greenvolt in Hungary and Eco Stor in Germany.
January 20, 2026
While the UK grid-scale BESS market continues to be among the busiest in Europe, there are still huge questions and plenty work to be done in several key policy areas.