95 GW of capacity installed in large-scale batteries by 2050? A real goal for Europe

As projected by Aurora Energy Research, Europe has the potential to achieve an impressive installed energy storage capacity of 95 GW within a span of less than thirty years. This ambitious goal pertains specifically to battery systems boasting a capacity exceeding 10 MW each. At present, the continent’s energy storage capacity stands at a modest 5 GW. To realize this remarkable growth trajectory, a substantial investment of approximately EUR 70 billion would be requisite.

According to the latest report from Aurora Energy Research, Germany, Great Britain, Greece, Ireland, and Italy emerge as the most promising markets for energy storage in Europe. This distinction is largely attributed to favorable legal frameworks and robust initiatives in the realm of green transformation.

A particularly noteworthy example is Greece, which has set forth the most ambitious energy storage targets in Europe, aiming for an impressive 6 GW capacity by 2030. Following closely, Italy ranks second with a target of 3 GW by the same year.

Aurora Energy Research’s analysis reveals that out of the 24 countries evaluated, 14 have yet to formulate a concrete strategy for the deployment of energy storage, with Germany among them. However, Germany’s dynamic progress in the field of renewable energy renders it a potentially promising market for energy storage.

Moreover, it’s important to highlight ongoing efforts to introduce new supportive measures across various levels of European institutions, including the European Commission. These initiatives aim to invigorate and rejuvenate the energy storage market throughout Europe.