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

Read Next

February 26, 2026
Large-scale renewable energy power plant developers in the Philippines have been instructed to integrate energy storage into their proposed facilities.
February 26, 2026
Europe’s battery storage sector could benefit from a reassessment of the accuracy, and usage, of revenue modelling.
February 25, 2026
Experts at the ongoing Energy Storage Summit 2026 have cautioned against treating co-located storage as a “silver bullet” to prop up commercially underperforming solar assets.
February 25, 2026
Now in its 11th year and a firm fixture on the industry calendar, the Energy Storage Summit 2026 opened yesterday in London, UK.  
February 25, 2026
BESS are a key facilitator of flexibility in a revenue stack, according to speakers at the 2026 Energy Storage Summit.