European energy storage: a new multi-billion-dollar asset class
In Europe, the capacity of renewable energy sources is growing very rapidly, while traditional power plants are slowly being decommissioned. That''s creating a unique new
A new interactive platform—the European Energy Storage Inventory —has been launched to provide near real-time insights into energy storage deployment across the EU, marking a major step toward a smarter and more sustainable energy system.
The latest edition of the European Market Monitor on Energy Storage by LCP Delta and The European Association for Storage of Energy (EASE), released today, highlights Europe's rapid expansion in energy storage capacity, which reached 89 gigawatts (GW) by the end of 2024.
The European Energy Storage Inventory provides impressive figures on the current state of energy storage capacities in Europe. According to the platform, 905 projects with a total output of 66 gigawatts are currently in operation.
Many European energy storage markets are growing strongly, with 4.9 GW (12.1 GWh) of utility-scale (front-of-the-meter) energy storage deployed in 2024, giving an estimated total of more than 13 GW. Different studies have analysed the likely future paths for the deployment of energy storage in Europe.
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