The UK’s battery energy storage market will grow to 24GW by the end of the decade and account for almost 9% of all global capacity installations, energy research firm Rystad Energy said.
UK battery storage developer Field Energy has announced plans to expand into Italy, a market where the utility-scale sector is set to grow substantially from a negligible base today.
Europe reached 4.5GW of battery storage capacity last year and could hit 95GW by 2050, according to figures from LCP Delta and Aurora Energy Research respectively.
The UK Department for Energy Security and Net Zero (DESNZ) is providing £30 million (US$37.5 million) in grants for long-duration energy storage (LDES) projects from Synchrostor, Invinity Energy Systems and Cheesecake Energy.
Invinity Energy Systems will deploy a partially grant-funded 7MW/30MWh vanadium redox flow battery (VRFB) system in the UK as the company scales up its project sizes.
UK Infrastructure Bank plans to invest up to £265 million (US$331.45 million) in energy storage development in the UK, in partnership with British Gas owner Centrica Plc.
The decision by the new owners of UK gigafactory startup Britishvolt to pivot its initial focus towards energy storage rather than EVs has pros and cons, a senior industry consultant told Energy-Storage.news
UK utility SSE has put £100 million (US$123 million) into its Coire Glas pumped hydro project in Scotland for pre-construction activities, but said that new policy is needed for it go to final investment decision (FID).
