From ESS News
Europe’s BESS market is poised for a major jump in yearly additions, with deployment hitting 11 GW in 2024 and projected to surge 45% to 16 GW in 2025, according to Wood Mackenzie.
Moreover, the research and consultancy firm expects European BESS deployment to grow at a 9% compound annual growth rate over the next ten years, reaching 35 GW by 2034.
Within this expanding European landscape, Germany emerges as the rising star across all segments (utility, C&I, residential). The country leads European deployment with over 3.5 GW expected this year, doubling to 7 GW by 2034. However, despite strong current fundamentals, the German market faces revenue decline as increasing competition cannibalises price volatility.
To continue reading, please visit our ESS News website.
This content is protected by copyright and may not be reused. If you want to cooperate with us and would like to reuse some of our content, please contact: editors@pv-magazine.com.
By submitting this form you agree to pv magazine using your data for the purposes of publishing your comment.
Your personal data will only be disclosed or otherwise transmitted to third parties for the purposes of spam filtering or if this is necessary for technical maintenance of the website. Any other transfer to third parties will not take place unless this is justified on the basis of applicable data protection regulations or if pv magazine is legally obliged to do so.
You may revoke this consent at any time with effect for the future, in which case your personal data will be deleted immediately. Otherwise, your data will be deleted if pv magazine has processed your request or the purpose of data storage is fulfilled.
Further information on data privacy can be found in our Data Protection Policy.