The European Union (EU) has unveiled its plans for its own Inflation Reduction Act-style support package, the Green Deal Industrial Plan, for clean energy technologies including energy storage.

CO2 Battery company Energy Dome has won €17.5 million (US$18.5 million) in grant and equity financing from the European Innovation Council, the maximum amount available.

Europe needs to act now to prevent an outflow of investment from its burgeoning battery manufacturing ecosystem in light of the US’ Inflation Reduction Act, the EU-founded European Battery Alliance (EBA) has said.

In the past few days, EU policymakers have made decisions on key aspects of legislation that have been welcomed by industry group EASE.

The European Union parliament has voted on amendments to REPowerEU which will see its accelerated permitting for renewable projects expanded to include standalone energy storage.

Rules on battery sustainability, performance and labelling will become more stringent within the European Union (EU).

European Commission has given green light for state aid towards development of a large-scale pumped hydro energy storage in Finland.

The Minister of Energy of Romania will provide up to €103 million in financial support for battery energy storage systems deployments in the country.

Fenecon has begun construction of factory in Germany which will repurpose electric vehicle (EV) batteries into stationary storage systems.

Industry should make “concrete proposals” for electricity market reforms, or risk policy and regulation continuing to fall short in valuing the role of energy storage.