Current Status Of European Battery Energy Storage System Market

In recent years, the European battery energy storage system market has developed rapidly and has become an important force in the global energy storage field. As the proportion of renewable energy in the energy structure continues to increase, the demand for grid stability and flexibility is growing. As a key means of regulation, the market size of battery energy storage systems continues to expand. According to data from the European Photovoltaic Association (SolarPower Europe, SPE), Europe's energy storage installed capacity is expected to be 22.4GWh in 2024, including 11GWh of large storage, a year-on-year increase of 206%, 8.7GWh of household storage, a year-on-year decrease of 27.5%, and 2.7GWh of commercial storage, a year-on-year increase of 80%. Starting from 2024, large storage in Europe will surpass household storage to become the type of energy storage with the highest proportion. It is expected that by 2028, the newly installed capacity of large storage in Europe is expected to be 35.9GWh, with a four-year compound annual growth rate (CAGR) of 34.4%.

 

From the perspective of regional distribution, the United Kingdom, Germany, Italy and other countries have performed particularly well in promoting the layout of large-scale energy storage projects. The UK has the largest energy storage market, with mature project cases and a sound policy framework; Germany follows closely behind as an emerging market, with its grid-side energy storage market growing faster than household storage; Italy has set ambitious renewable energy targets for 2030 and plans to invest 17.7 billion euros in large-scale energy storage projects in the south and islands, with an installed capacity target of 9GW/71GWh.