Why Energy Storage Prices Dropped in Bern Market Insights Trends
Over the past year, Bern has seen a noticeable price reduction in advanced energy storage systems. This trend aligns with broader European efforts to accelerate renewable energy
These policies are mostly concentrated around battery storage system, which is considered to be the fastest growing energy storage technology due to its efficiency, flexibility and rapidly decreasing cost. ESS policies are primarily found in regions with highly developed economies, that have advanced knowledge and expertise in the sector.
ESS policies mostly promote energy storage by providing incentives, soft loans, targets and a level playing field. Nevertheless, a relatively small number of countries around the world have implemented the ESS policies.
The International Energy Agency (IEA) estimates that in the first quarter of 2020, 30% of the global electricity supply was provided by renewable energy . ESS policy has made a positive impact on transport storage by providing alternatives to fossil fuels such as battery, super-capacitor and fuel cells.
In general, policies are designed to establish boundaries and provide regulatory guidelines. According to the Energy Storage Association (ESA), the policy tools fall under three categories which are value, access and competition .
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