How big is energy storage in Europe in 2024?Pumped-hydro storage (PHS) dominated the market, accounting for 53 GW of total capacity. Meanwhile, electrochemical storage reached 35 GW, with many installations in homes and businesses. Large-scale thermal projects accounted for around 1 GW. The rate of energy storage adoption varied across European countries in 2024. Image: EASE.
How much energy storage will Europe have by 2050?Overall, total energy storage in Europe is expected to increase to about 375 gigawatts by 2050, from 15 gigawatts last year, according to BloombergNEF. We spoke with Grebien about electricity market trends, energy storage technologies, as well as the investment and financing opportunities emerging from these technologies.
Is energy storage a good investment in Europe?Compared to classic renewables, energy storage has really only become an investable asset in Europe over the last few years on the back of technology advances, market price signals, and government support mechanisms.
Which energy storage technology is the most popular in Europe?Pumped hydro is the most widely used technology for energy storage in Europe and worldwide, but batteries and hydrogen have come into the spotlight over the last decade as a recent trend in the energy storage market.
How do energy storage assets make money in Europe?For short-duration energy storage assets, there are really three key revenue streams for energy storage assets in Europe. The first one is capacity payments, which have become a broadly implemented policy measure by governments to support system reliability and incentivize the installation of certain new power asset types.
Why is energy storage growing so fast in Europe?The fleet of energy storage projects in Europe, including both pumped hydro and battery energy storage systems of all sizes, is expanding rapidly. This growth is set to continue at a strong pace through 2030, fueled by technological advancements, supportive policies, and other key facto
May 28, 2025 · Spanish renewables firm Grenergy Renovables SA (BME:GRE) said on Wednesday it will invest EUR 3.5 billion (USD 3.96bn) through 2027 to
May 1, 2025 · ACP announced a commitment on behalf of the US energy storage industry to invest US$100 billion in American-made grid batteries.
Aug 7, 2025 · The energy transition is no longer a distant vision—it is a present-day imperative. As Europe grapples with the dual challenges of decarbonization and energy security,
Mar 20, 2025 · Bundestag approved the draft bill to create a special fund with additional EUR 500 billion for German infrastructure to achieve climate
On 2 July 2025, the European Commission published guidance on renewables, grid infrastructure and network tariffs. The communication aims to accelerate
Aug 17, 2023 · Storing energy so it can be used later, when and where it''s most needed, is key to supporting increased renewable energy production, energy efficiency and energy security. To
Aug 8, 2025 · The PPC Group is on track to exceed last year''s 3 billion-euro investment milestone, with management set to unveil an updated strategic plan during Capital Markets
MLex Summary: Storage technologies in Spain will be eligible for direct grants to support the construction of new power storage capacities, under a national plan worth almost 700 million
Apr 1, 2025 · The €500 billion infrastructure fund is intended to overhaul years of underfunding in a number of sectors, including transport, hospitals, energy,
Apr 25, 2024 · GW = gigawatts; PV = photovoltaics; STEPS = Stated Policies Scenario; NZE = Net Zero Emissions by 2050 Scenario. Other storage
Apr 16, 2025 · The Europe Energy Storage Market was worth USD 51.21 billion in 2024 and is anticipated to grow at a CAGR of 14.13 % from 2025 to 2033.
Jun 3, 2025 · This article explains what the program involves, how energy storage benefits the grid and environment, the market opportunities it creates, and who will benefit from this major
Dec 22, 2023 · The European Union (EU) Commission has approved a state aid scheme aiming to fund the rollout of over 9GW/71GWh of energy storage in
4 days ago · Germany''s new coalition government has set up a debt-financed special fund worth 500 billion euros for infrastructure and climate projects, in
Mar 11, 2025 · Pumped hydro is the most widely used technology for energy storage in Europe and worldwide, but batteries and hydrogen have come into
Apr 17, 2025 · "With energy storage, there''s a new and interesting asset class emerging, and the business model is fundamentally different to that of wind and solar," says Ingmar Grebien, who
Aug 17, 2023 · The main energy storage method in the EU is by far ''pumped hydro'' storage, but battery storage projects are rising. A variety of new technologies to store energy are also
GS Pearl Street, a Goldman Sachs platform dedicated to financing and trading clean energy technology, has been instrumental in shaping the European
Apr 11, 2025 · Key takeaways for Germany''s infrastructure and energy sector from the new government''s coalition agreement.
May 7, 2025 · 21.9 GWh of battery energy storage systems (BESS) was installed in Europe in 2024, marking the eleventh consecutive year of record breaking-installations, and bringing
May 18, 2025 · The Energy Storage Market Report 2025 highlights key trends, workforce developments, investment flows, and other factors shaping the
May 30, 2025 · Grenergy,a Spanish multinational clean energy producer, has unveiled its 2025–2027 strategic plan during Capital Markets Day in London, announcing an investment of
EASE has published an extensive review study for estimating Energy Storage Targets for 2030 and 2050 which will drive the necessary boost in storage
Nov 6, 2024 · How we produce and consume electricity is changing fundamentally. In Europe, the capacity of renewable energy sources is
Jun 11, 2025 · Clean Energy Wire Germany''s renewable energy industry has welcomed a draft detailing the design of the country''s 500-billion euro special
Apr 22, 2025 · Global corporate funding in the energy storage sector for the first quarter plunged by 81% on the year to USD 2.2 billion (EUR 1.91bn), shows
Apr 1, 2025 · Europe continues to grow its energy storage fleet at pace, advancing its transition to a more sustainable and resilient energy system. According to a new report authored by LCP
Apr 1, 2025 · The report summarises historical activity, key takeaways, analysis and forecasts on the future direction of Europe''s energy storage markets. It found that last year,
Jan 22, 2025 · Corporate funding in the global energy storage segment marked a 5% year-on-year increase in 2024, reaching USD 19.9 billion (EUR 19.08bn), data by Mercom Capital
Pumped-hydro storage (PHS) dominated the market, accounting for 53 GW of total capacity. Meanwhile, electrochemical storage reached 35 GW, with many installations in homes and businesses. Large-scale thermal projects accounted for around 1 GW. The rate of energy storage adoption varied across European countries in 2024. Image: EASE
Overall, total energy storage in Europe is expected to increase to about 375 gigawatts by 2050, from 15 gigawatts last year, according to BloombergNEF. We spoke with Grebien about electricity market trends, energy storage technologies, as well as the investment and financing opportunities emerging from these technologies.
Compared to classic renewables, energy storage has really only become an investable asset in Europe over the last few years on the back of technology advances, market price signals, and government support mechanisms.
Pumped hydro is the most widely used technology for energy storage in Europe and worldwide, but batteries and hydrogen have come into the spotlight over the last decade as a recent trend in the energy storage market.
For short-duration energy storage assets, there are really three key revenue streams for energy storage assets in Europe. The first one is capacity payments, which have become a broadly implemented policy measure by governments to support system reliability and incentivize the installation of certain new power asset types.
The fleet of energy storage projects in Europe, including both pumped hydro and battery energy storage systems of all sizes, is expanding rapidly. This growth is set to continue at a strong pace through 2030, fueled by technological advancements, supportive policies, and other key factors.
The global commercial and industrial solar energy storage battery market is experiencing unprecedented growth, with demand increasing by over 400% in the past three years. Large-scale battery storage solutions now account for approximately 45% of all new commercial solar installations worldwide. North America leads with 42% market share, driven by corporate sustainability goals and federal investment tax credits that reduce total system costs by 30-35%. Europe follows with 35% market share, where standardized industrial storage designs have cut installation timelines by 60% compared to custom solutions. Asia-Pacific represents the fastest-growing region at 50% CAGR, with manufacturing innovations reducing system prices by 20% annually. Emerging markets are adopting commercial storage for peak shaving and energy cost reduction, with typical payback periods of 3-6 years. Modern industrial installations now feature integrated systems with 50kWh to multi-megawatt capacity at costs below $500/kWh for complete energy solutions.
Technological advancements are dramatically improving solar energy storage battery performance while reducing costs for commercial applications. Next-generation battery management systems maintain optimal performance with 50% less energy loss, extending battery lifespan to 20+ years. Standardized plug-and-play designs have reduced installation costs from $1,000/kW to $550/kW since 2022. Smart integration features now allow industrial systems to operate as virtual power plants, increasing business savings by 40% through time-of-use optimization and grid services. Safety innovations including multi-stage protection and thermal management systems have reduced insurance premiums by 30% for commercial storage installations. New modular designs enable capacity expansion through simple battery additions at just $450/kWh for incremental storage. These innovations have improved ROI significantly, with commercial projects typically achieving payback in 4-7 years depending on local electricity rates and incentive programs. Recent pricing trends show standard industrial systems (50-100kWh) starting at $25,000 and premium systems (200-500kWh) from $100,000, with flexible financing options available for businesses.