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EU solar battery storage market increased by 94 percent last year, report says

( June 11, 2024, 17:00 GMT | Official Statement) -- MLex Summary: The EU solar battery storage market installed 17.2 gigawatt-hour of new battery energy storage systems in 2023 — a 94 percent increase on 2022, SolarPower Europe has said in a market intelligence report. The report found that growth was mainly driven by the residential segment, followed by large-scale battery systems and the commercial and industrial battery sector, with Germany has maintaining its position as the leading market. However, the lobby group identified some challenges for battery storage in the EU — including insufficient market signals and restrictive grid policies for hybrid renewable installations — and has called for comprehensive EU electricity storage strategy with a target of 200 gigawatts of battery power capacity by 2030.Statement follows. The report is attached....

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