By the end of 2023, cumulative distributed solar PV installed capacity in major European markets had grown by a fifth in just one year. Distributed energy storage deployment experienced an average interannual growth rate of 122% over the same period.
These unprecedented hikes in installations have been driven by an average 40% increase in household and non-household electricity rates across European countries in the wake of Russia’s invasion of Ukraine. This has coincided with the rollout of ambitious policy support mechanisms like sales tax exemptions, CAPEX rebates and regional rooftop mandates in countries like Germany, the Netherlands, Spain or Italy.
While retail electricity rates return to pre-crisis levels and NextGeneration EU funds are exhausted, the importance of distributed energy systems is becoming increasingly clear. Widespread rollout of solar-plus-storage policy, substantial declines in module and battery technology prices, and emerging business cases for flexibility and grid export compensation will translate into further growth for decentralised energy storage across the region.
Watch our webinar on-demand and listen to WoodMac’s distributed solar and energy storage experts in Europe as they present their latest regional outlooks for the residential and C&I solar PV and energy storage segments.
During the webinar, our experts discuss:
- What will it take to maximise distributed solar PV deployment in Europe by 2033?
- Growth in European distributed storage segment, defining the decade trajectory
- WoodMac distributed solar and storage coverage showcase
Get to know our speakers
Juan Monge
Principal Analyst, Distributed Solar, Europe
Juan covers distributed solar market developments across Europe.
Latest articles by Juan
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Opinion
Global solar PV installed capacity will more than triple in the next ten years
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Global solar forecast gets an upgrade
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Chinese state-owned enterprises are the largest owners of solar assets
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Western Europe will drive 46% of the continent’s solar in the next ten years
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Global solar capacity to increase 32% compared to 2022
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Opinion
Record solar buildout expected in all regions this year
Anna Darmani
Principal Analyst, Energy Storage EMEA
Anna is a principal analyst focused on the European, Middle East and African storage markets.
Latest articles by Anna
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The outlook for European power and renewables
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Is European power rising to the challenge of decarbonisation?
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Global energy storage: staggering growth continues – despite bumps in the road
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Opinion
Europe’s grid-scale energy storage capacity will expand 20-fold by 2031
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Charging stations: investing in Europe’s nascent battery industry
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Opinion
Europe’s residential energy storage market to expand nearly tenfold this decade