Solar and BESS are reinforcing Europe''s transition away from
Power systems in Central Europe are emerging as key players in the global energy transition through the rapid expansion of solar farms and locally made BESS. A report by
It showed annual growth rates of 197%, mainly driven by the massive expansion of the residential battery segment. Last year, Czech households installed 910 MWh of solar & storage, the highest BESS-PV attachment rate in Europe (94%). This record level has been achieved thanks to the very well-established support of the New Green Savings Programme.
In early 2024, the price of residential BESS offered to end consumers in Europe ranged widely, from €400 to more than €1,200 per kilowatt-hour (kWh) (Exhibit 2). Historically, European OEMs built trust-based brands by highlighting their “made in Europe” status and rode the first-mover wave over the past ten years.
These international players are placing cost pressure on European BESS OEMs by driving down prices. In early 2024, the price of residential BESS offered to end consumers in Europe ranged widely, from €400 to more than €1,200 per kilowatt-hour (kWh) (Exhibit 2).
While our five-year outlook foresees significant BESS expansion in Europe – a sixfold increase to nearly 120 GWh by 2029, driving total capacity to 400 GWh (EU-27: 334 GWh) – this remains far below the levels required to meet flexibility needs in a renewable-driven energy system.
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