Insight
Europe set to lose the global energy storage race - how can it win?
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Report summary
Reflecting on our latest Global energy storage outlook: H2 2020, it becomes apparent that Europe’s energy storage outlook is beginning to pale in comparison to its global counterparts. However, Europe has, and will continue to have proportionally more renewables and more importantly more variable renewable energy (VRE, wind and solar) than any other region on the planet. Whilst delivering low-cost, low-carbon power in abundance, the non-dispatchable nature of VRE presents a flexibility challenge to power systems. Energy storage will be at the forefront of meeting this challenge. So, why does Europe’s energy storage ambition not match its renewables ambitions? We think policy makers are underestimating the flexibility challenge ahead. What needs to be done to right this wrong?
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