Rising use of renewables is driving storage demand
Europe’s energy storage market stalls
Regulatory barriers and lack of capacity auctions hit growth but RepowerEU seen as supporting market, says Wood Mackenzie
Investment in energy storage capacity in Europe has stalled because of regulatory barriers and a lack of power capacity auctions for projects to bid into, according to consultancy Wood Mackenzie. Europe lags other regions on energy storage, with only 159GWh forecast to be deployed by 2031 compared with 422GWh in China and 600GWh in the US, Woodmac says in its latest Global Energy Storage Outlook. “Growth has stalled in Europe as regulatory barriers fail to improve storage project economics,” says Dan Shreve, Woodmac's global head of energy storage. “In addition, limited access to power markets and a lack of revenue-stacking opportunities, combined with a lack of capacity market auctions, has
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