Europe will need a total of 187GW of energy storage by 2030 and 600GW by 2050 to meet its renewable energy targets, according to the European Association of Energy Storage (EASE).
European battery energy storage deployments are expected to plateau over 2024-27 due to lithium-ion scarcity whilst the continent will need 200GW by 2030 to accommodate additional renewables, according to a new report and webinar.
Industrial battery storage systems can lower electricity costs for the facilities they are installed at, but could also help manage the cost of power for all consumers.
Bill Gates-founded Breakthrough Energy, The European Associate for Storage of Energy (EASE), Solar Power Europe and Wind Europe have together called on the European Commission to recognise energy storage’s crucial role for the security of energy supply in Europe.
Lithium iron phosphate (LFP) will be the dominant battery chemistry over nickel manganese cobalt (NMC) by 2028, in a global market of demand exceeding 3,000GWh by 2030.