The energy storage market in Europe this year is expected to almost double the annual storage deployments seen in 2020, reaching 3,000 megawatt-hours (MWh), the European Association for Storage of Energy (EASE) said in statement on Tuesday.
According to the fifth edition of the European Market Monitor on Energy Storage (EMMES), 2021 looks particularly strong for the sector with new services opening across Europe.
The EMMES highlights the strong performance of front-of-meter markets across Europe last year, with Italy, the UK and the Nordic region supporting demand for grid-level storage projects of increasing duration.
The report showed that the residential, and commercial and industrial (C&I) sectors felt the impact of the Covid-19 pandemic much harder, with onsite installations inhibited by lockdowns.
The report expects that these sectors will not only recover but will be boosted when the pandemic disappears with help from the €1.8 trillion EU Covid-19 Recovery Plan.
The European Parliament has called on the Commission to develop a new comprehensive EU energy storage strategy, which could create new market incentives and help accelerate recovery.
'The €1.8 trillion EU COVID-19 Recovery Plan expects to deliver significant public investment into clean energy technologies, including storage,” the report said.
EMMES said the European Parliament has called on the Commission to develop a new comprehensive EU energy storage strategy, which could create new market incentives and help accelerate recovery.
€1 equals $1.19 at 09.44 GMT on Tuesday.
By Gulsen Cagatay