Energy storage growth despite headwinds
As Europe accelerates its energy transition, integrating more renewables requires enhanced battery energy storage solutions to ensure grid stability and maximize their value. Susan Taylor and Susanne von Aichberger, of S&P Global Commodity Insights, examine the state of play for European solar and storage in 2025.
Growth in Europe’s PV market fell to 12% in 2024, down from 51% in 2023. There was a notable 23% decline in the residential sector, which started slowing down in the second half of 2023. This followed an installation boom fueled by the 2022 energy crisis. Falling or stabilizing electricity prices and ongoing cost pressures …
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