EASE Market Monitor 7.0: demand for storage greater than ever

The European energy storage dome EASE has its seventh Market Monitor published in collaboration with research firm LCP Delta. This study examines more than 2,600 battery projects throughout Europe. This includes a country-by-country analysis of the different market segments (residential, commercial/industrial and Front of Meter) and the growth prospects of the storage market until 2030. The impact of national and European legislation is also considered.

The report concludes that demand for energy storage has never been higher. Some 4.5GW of new installations were added in Europe in 2022. In 2023, growth of more than 6GW is expected. Demand is also expected to increase further due to European legislation, the fossil fuel crisis and increasing project development.

However, it is noted that the market faces challenges in meeting this demand, including scarcity of available materials and manpower. Because of the scarcity and high prices, the financeability of systems is under pressure. Growing grid congestion issues may also be an obstacle to timely completion of expected projects.

The United Kingdom and Germany are leading the way in the realization of projects, where they focus on Front of Meter and residential storage, respectively. With the recovering market as a whole, a more diverse picture is expected across countries in the short to medium term, however.

Via this link can be seen a full presentation of the results of the report. Unfortunately, the report as a whole is not publicly available.

Energy Storage NL, as a member of EASE, does have access to the data. We will therefore use these in our own market research that will be presented to participants at the end of May.